Chancellor of the Exchequer, Philip Hammond, has invited a city deal bid for the Derry-Londonderry City Region.

During a visit to Belfast today, 25 July, Chancellor Hammond said the deal would be an "opportunity for the region to continue to drive forward economic growth and build an economy that works for everyone".

The Government is currently investing over £1.6 billion in city deals in Scotland and Wales, with negotiations ongoing for a Belfast City Region Deal.

City Deals are bespoke packages of funding for large projects to boost the economy and create better jobs for more people, with money invested in visitor attractions, regeneration, public transport, infrastructure, digital connectivity, research and innovation centres and skills development.

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Welcoming the news, Sinn Féin MP Elisha McCallion said: "Until today the British Government has resisted giving a formal commitment to a City Deal for the north west. 

"Today's breakthrough is a result of the pressure placed on the British government by Sinn Féin and key stakeholders. It means that a City Deal for the north west can now be progressed. 

"A City Deal can help fund the Strategic Growth Plan produced by and for the people of the north west. We can now formally submit our ambitious plans for an inclusive growth in the region and begin negotiations on their funding. It is important to build on today's good news and ensure that the Belfast and north west City Deals proceed in tandem."

SDLP Leader, Colum Eastwood MLA, said the party is delighted that the Chancellor has invited a bid for the Derry City Deal.

"The benefits stemming from a substantial economic intervention in the North West cannot be overstated," he said.

"Both Derry and Strabane have waited a long time to receive the investment it deserves to reach its full potential.

"A city deal for Derry will go a long way to progressing our rail networks, building new road infrastructure, developing the Ulster University Magee Campus and increasing the overall productivity of the North West. The SDLP will engage with all local partners across the community to ensure the bid is accepted by the treasury and investment is made in the correct places."

(LM/MH)