While welcoming the signing of the new deal, the First Minister, deputy First Minister and Finance Minister reiterated their calls for the UK government to reverse its decision to pause their support for the Causeway Coast and Glens and Mid South West Growth Deals until the Spending Review.
First Minister Michelle O'Neill said: "This is a fantastic day for Derry and Strabane, as we sign off on a historic investment of over £290million to continue the transformation of this city, and to build a brighter future for all communities.
"This City Deal is a game-changer for the regeneration of this City and District, for creating better jobs, for education, tourism and helping to unleash the North West's full economic potential.
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"The British government's must lift their pause on the other Growth Deals and ensure these financial investments continue as planned."
Deputy First Minster Emma Little-Pengelly added: "The funding as part of this City Deal focuses on innovation, regeneration, tourism and renewal initiatives, with the potential to create 6,300 new jobs by 2033.
"Working in collaboration with our City Deal partners, we want this investment to deliver the projects that will have lasting impact and will create opportunities for further investment in the north west region.
"Although today's signing is to be welcomed, we remain gravely concerned about the impact of the pause on the Mid South West and Causeway Coast and Glens Growth Deals. These deals deliver vitally important opportunities for growth and we will continue to push the UK Government to lift the pause on them."
Finance Minister Dr Caoimhe Archibald concluded: "I am delighted to sign the Derry City and Strabane District Council City Deal today which will be transformational for the North West.
"This major milestone represents a huge investment and is the outworking of our commitment to promote regional balance.
"Today's signing is a huge milestone for all those involved and work can now begin to allow the funding to deliver real change for this City and District.
"While positive work can begin here, the pause must be lifted on the Causeway Coast and Glens and Mid-South West Growth Deals. I will continue to press the British Government to honour their commitments made to these Deals which will bring hope and prosperity right across the North."
