FUNDING for a European cross-border programme is set to reach €1 billion (£890 million) over the next six years.
The next incarnation of the Peace programme (Peace Plus) will run from 2021 to 2027 after the European Commission and the Irish Government jointly committed €206m.
The British Government will provide at least £500m for the programme, which dates back to 1995.
Mr Murphy said the executive will provide £134m, with Dublin now committing to €52m in additional match funding for the next six years.
“Peace Plus will build on previous Peace and Interreg programmes to promote peace and prosperity in Ireland,” said the finance minister.
“It will help mitigate the impact of Brexit and Covid, particularly on the most marginalised people and border communities.
“With funding now confirmed, the Special EU Programmes Body will shortly commence a public consultation. I would encourage everyone interested to respond to that consultation and have their say.”