Health and social services minister Jane Hutt told the assembly last week that the money would be given to the child and adolescent mental health strategy.
Speaking to the assembly's health and social services committee, Hutt said: "The 700,000 will help to improve emergency beds for CAMHS patients and will establish forensic consultation teams."
She said the money would also help specialist CAMHS teams implement new ways of working in mental health, allowing them to improve services for children in their local area and relieve pressures on senior staff.
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