NEWPORT, Caerphilly, Torfaen, Blaenau Gwent and Monmouthshire are to get a share of £2 billion of EU funding for Wales over the next seven years.

They have been allocated the money because they are considered among the poorest areas of the 28-country European Union.

The announcement was described as good news for South East Wales by finance minister Jane Hutt, who said it will have a "real impact" in the area.

The funding is made up of £1.152 billion from the European Regional Development Fund and £804 million from European Social Fund, and will be invested to build on the success of projects including apprenticeships, Jobs Growth Wales and Business Start Up to help boost economic growth, jobs and skills.

Rural areas will get a share of just over £520 million rural development funding.

Jane Hutt said the announcement was a "significant milestone".

“I am now expecting both the European Regional Development Fund and European Social Fund programmes for West Wales and the Valleys and for East Wales to be approved very shortly," she said.

"This will allow us to start delivering on our shared goals across government for sustainable economic growth and jobs.”

But some criticised the government saying that the country should not have qualified for the money in the first place.

Welsh Liberal Democrat Shadow Economy Minister Eluned Parrott AM said: “I want this to be the last time Wales qualifies for this handout.

“This money has arrived at an ideal time to improve public transport infrastructure in the South Wales Valleys, tying in with the long awaited Metro project to connect communities and enable people to travel quickly and easily to places of employment such as Cardiff and Newport.

“If Wales still qualifies in a few years’ time for the next round of funding after being given £2billion to sort out our economy then the Welsh Labour Government will have failed Wales once again.”