As Europe's leaders gather for a two day summit in Brussels, Plaid MEP Jill Evans is urging Prime Minister Gordon Brown to accept EU plans to maximise the use of the money Wales receives from the structural funds.
EU leaders are being asked to approve 'the Barroso plan', a multi billion pound economic recovery package being put forward in the name of the President of the European Commission.
Part of this plan envisages reforming the way European structural funding is paid by allowing so-called 'front-loading'. This would mean more payments in advance to help with the start up costs of new projects. It would mean more flexibility over time in match funding requirements.
Ms Evans met senior officials at the European Commission to discuss the proposals last week, along with Plaid Treasury Spokesperson Adam Price MP.
Commenting ahead of the Summit, the Plaid MEP said:
"This move could provide a much needed boost for the Welsh economy, particularly the SME sector which is facing great challenges as a result of the credit crisis.
"But to make this happen, we need to see the Barroso plan approved by EU leaders, and we need an assurance from Gordon Brown that he'll take up the option of 'front loading' the structural funds.
"We met senior European Commission officials last week to go through this matter in detail and confirm that Wales could potentially benefit from up to 27 million pounds in extra short term funding .
"I urge Gordon Brown and the UK Government to support the Barroso plan so we can ensure the maximum benefit for Wales."
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