I'm afraid I would say that this scheme is entirely misconceived urban road-building and would be a dreadful waste of public money. It's standard predict-and-provide, stone age highway engineering. Not the fault of the EU but of Belfast city 'planners'.
http://www.belfasttelegraph.co.uk/business/news/york-street-interchange-100m-roads-project-for-belfast-on-hold-following-brexit-vote-35143817.html
Cos 40% is EU funding. No hard guarantees...so... (and yes that intersection is fun times during rush hour...)