A deal for Wales to receive £2bn in European aid between 2014 and 2020 has been formally agreed.
The next stage will be for the individual programmes to be adopted as the money is invested in some of the poorest parts of the country.
It is the third time in a row that Wales has qualified for what is called "structural funding"
This latest amount has to be used by the Welsh government for long-term sustainable economic growth and jobs.
The money is given to areas where the value of what is produced is three-quarters or less of the EU average.
Making 'real difference'Labour's Jenny Rathbone, who chairs the committee which monitors EU spending in Wales, welcomed the so-called partnership agreement.
The Cardiff Central AM told BBC Wales that this was a hugely significant amount of money and work would now have to be done on where the money should be spent.
She said: "This is big news for Wales. We're one of the first EU regions to be allocated this money.
"It's money that can make a real difference and careful thought will now have to go into making sure that it delivers the right projects across Wales."
Wales' £2bn EU deal formally agreed
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