A joint project aimed at boosting the economy of Ceredigion and Powys has welcomed the release of an extra £11.857 million of funding

The UK and Welsh governments have released a portion of the £110 million promised in 2022 to boost to support projects across the region.

Growing Mid Wales says the latest tranche of Growth Deal funding reflects sustained joint investment and confidence by both governments and marks an important step forward as the programme continues to build momentum.

The partnership says: “A number of projects across Mid Wales are progressing through business case development and approvals, moving the Growth Deal further towards delivery on the ground.”

Ceredigion council leader, Bryan Davies and Jake Berriman, Leader of Powys County Council, Co-Chairs of the Growing Mid Wales Board, said: “This latest tranche of funding demonstrates the continued momentum behind the Mid Wales Growth Deal, with investment supporting projects as they move closer to delivery.

“The Growth Deal is focused on creating long-term economic opportunities for the region — supporting jobs, improving infrastructure and enabling sustainable growth. This further funding reinforces the shared commitment from both governments and gives confidence as projects continue to progress through development towards implementation.”

Anna McMorrin MP said: “This further tranche of funding provides confidence and stability as projects progress towards delivery, helping ensure that businesses and communities can benefit from improved infrastructure, increased productivity and new opportunities.”

Rebecca Evans MS, for the Welsh Government said: “As projects move closer to delivery, this investment helps maintain momentum and supports the development of high-quality infrastructure that will enable sustainable, inclusive growth across the region.”

The Mid Wales Growth Deal forms part of the wider Growing Mid Wales vision to drive sustainable economic growth across the region.

The deal aims to leverage further public and private investment of over £300 million, creating long-term jobs and increase productivity across Mid Wales.