£700m investment key in rebuilding post COVID-19 economy
The executive is to provide match funding of £562m for city and growth deals across Northern Ireland and £55m for the Inclusive Future Fund. It will also provide up to an extra £100m for complementary projects.
"This is significant and it is a very positive announcement for the whole of Northern Ireland," First Minister Arlene Foster said.
The match funding for the city and growth deals goes along with UK Government funding announced in May 2019 and brings the total investment to £1.2bn.
Finance Minister Conor Murphy said despite the ongoing Coronavirus pandemic, the executive needed to plan for the long term.
He said: "This investment of more than £700m will provide investment in local areas and much-needed jobs and offers hope for the future."