Aimed at driving forward the economic regeneration of seven of Wales' most deprived communities, the four year initiative will fund 14 schemes within the Mon a Menai and North Wales Coastal Strategic Regeneration Areas.
The ambitious scheme, which will develop 2.9 hectares of land and 1,216 m2 of premises, is to receive £19 million from the EU's Convergence Funds as well as backing from the Welsh Assembly Government and other sources.
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Both Rhyl and Colwyn Bay, a key focus for regeneration, will benefit from developments to the seafront to improve existing facilities and boost tourism while town centre renewal projects will get underway in Bangor and Caernarfon.
In Anglesey, a range of historic and derelict buildings across the county will be renovated and brought back into economic use, including Llangefni Town Hall - earmarked as a hub for local food produce, crafts and offices. The square at Porth Amlwch will also receive a makeover and benefit from improved links between the town and the harbour.
Announcing the funding Mr Andrews said: "This programme of regeneration will create a more attractive climate for investment in the region while bringing about sustainable improvements to the built environment for the benefit communities in North Wales.
"Backed with European funding, the suite of schemes will target town centres to ensure they will be in pole position to attract private sector investment when the economy improves. The emphasis on public realm works will help set the scene and provide the environment aimed at stimulating commercial confidence and supporting the retail sector."
(CD/JM)
