On Tuesday, the British government announced a £105 million City Deal investment for the Derry City and Strabane District Council area.
That could be doubled by the Stormont Executive if it is eventually restored following current all party talks aimed at breaking a two year and four month deadlock between Sinn Fein and the DUP.
The Foyle MP said: “On Wednesday, I brought together partners and stakeholders from across the north west to meet with the permanent secretary of the Department of Finance and also the permanent secretary with responsibility for city deals.
“The delegation included Derry City and Strabane Council, the local Chamber of Commerce, Ulster University and the North West Regional College.
“We had a positive discussion on the announcement of funding for a city deal for the north west and what needs to happen next in order to maximise the benefits and opportunities for the wider region.
“We discussed the need for match funding from the local budget to enhance the funding we have already secured from the British government.
“We also discussed the mechanisms required to deliver and roll out this funding in the most effective way.
“I pressed them on the need for funding for the medical school at Magee and they agreed to speak to the permanent secretary of the Department of Health.
“We have agreed to meet again in the coming weeks to review progress and ensure this opportunity is maximised,” added the former Mayor of Derry.