The Foyle MLA said: “For over a year now much of the political focus has centred on social equality however the SDLP have been clear and consistent that economic equality must also be at the heart of negotiations to restore a sustainable and credible Stormont.
“It’s my job and the job of my party to pursue every avenue for badly needed investment in Derry and across the north west of Ireland.
“That’s why the SDLP has been leading the campaign to finally secure a City Deal for the Derry and the North West.
“I have this week proposed the idea that the loans to Ireland fund should be channelled into a Border Bank which would act as a North-South structural fund. Both of these significant economic interventions would seek to balance years of under –investment in the west and would also help to protect border areas against the economic threat of Brexit.
“This week my party has used meetings with the governments and Fianna Fáil to once again advance these campaigns.
“I am confident that momentum and consensus is building for these ideas and proposals.
“However, we are all too aware that promises have been repeatedly made and repeatedly broken in the past therefore our only option is to relentless in pursuing them until they are actually delivered.
“I am encouraged that the DUP and Sinn Féin have now changed their position since being in Government together and now support a City Deal for Derry and Strabane.
“That change of heart and policy is genuinely welcome.
“I have written to all local parties to ask them to finally join with the SDLP and work collectively to secure our City Deal – hopefully if each of us now work together on behalf of this city we can finally secure some economic power that has the potential to transform Derry’s economic landscape,” added the Foyle MLA.