Steps have been taken to unlock £38.7 million of funding for Carmarthenshire over the next three years. The money has been allocated to the county under the UK Government's new Shared Prosperity Fund, which replaces European Union funding.
The Shared Prosperity Fund is being parcelled out to four regions in Wales. The South West Wales region, which includes Carmarthenshire, is to receive £137.7 million. Swansea is to receive £41.6 million, Neath Port Talbot Council £34.4 million, and Pembrokeshire £23.1 million, subject to the approval of a regional investment plan by UK ministers.
The four councils have been preparing their own plans to feed into the regional investment plan, which will be submitted to the UK Government by Swansea Council - the designated lead authority - by August 1. Carmarthenshire's cabinet has now approved the regional plan and agreed other steps to ensure the county benefits from the funding.
