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<p>The UK Government has committed £500 million of funding for the Cardiff Capital
Region City Deal, which includes delivery of the South Wales Metro project. Responsibility
for bidding for EU funding in relation to the South Wales Metro project lies with
the Welsh Government. On 13 August 2016, the Chancellor confirmed that where UK organisations,
including the Welsh Government, bid directly to the European Commission on a competitive
basis for EU funding projects while the UK is still a member of the EU, the Treasury
will underwrite the payments of such awards, even when specific projects continue
beyond the UK’s departure from the EU.</p><p> </p>
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