Minister Campbell awarded the funding to North Down Council in a move that will see a long-awaited 50-metre pool built in Bangor.
"I am pleased that we have now reached this point which will allow the project to move forward to full planning and development stage," said Mr Campbell.
"This will be Northern Ireland's first Olympic sized swimming pool; it is also the first project in the Elite Facilities Capital Programme which will provide new and upgraded sports facilities across a range of sports in Northern Ireland over the next few years."
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"As a regional centre of excellence, it will be a state-of-the-art facility to be enjoyed by all the people of Northern Ireland.
"The project will go a long way towards addressing Northern Ireland's need for world class sporting facilities and will deliver a sporting infrastructure previously unavailable in Northern Ireland.
"I am hopeful that in the not too far distant future I will be announcing other proposals for sporting facilities currently being examined by Sport Northern Ireland under phase two of the Elite Facilities programme."
"The 2012 Olympic and Paralympic Games has given Northern Ireland an opportunity to improve its sporting facilities and my department will work in partnership with Sport Northern Ireland and other organisations to take forward the development of elite facilities which will create a legacy for future generations," the minister added.
(PR/JM)
