The federal, NSW and Victorian governments and Albury and Wodonga councils have all agreed to sign the statement of intent on July 6.

But due to ongoing COVID-19 restrictions the relevant federal and state MPs including federal regional development minister Nola Marino plan to officially kick-start the regional deal in a virtual gathering.

"The regional deal will seek to ensure that the region prospers over the next decade by supporting population growth and economic development, while also ensuring it remains a nationally significant, liveable and prosperous region " Ms Marino said.

In addition to the statement of intent signing, The Border Mail understands the make-up of reference groups to drive the regional deal forward will also be revealed.

They specific reference group include economic development, infrastructure and connectivity; regional health and social services; regional education; liveable community and tourism; defence and defence industries and surrounding councils.

No elected councillors in the region are expected to sit on the committees even though Albury and Wodonga councils were the key initial drivers of the concept before the federal government announced $3.1 million in funding more than a year ago for strategic planning purposes.

The final domino to fall to allow the statement of intent signing to go ahead was the Victorian Government agreeing to sign-up.

The signing was set to take place late last year after an earlier announcement all parties were onboard.

In February this year during a Wodonga Council meeting, mayor Anna Speedie revealed the final sign-off from Victoria was contingent on the approval of Premier Daniel Andrews' cabinet.

Formal cabinet agreement was communicated to the federal government in early June.

"We look forward to making the Albury-Wodonga regional deal a reality," a government spokesperson said.

"As the first cross-border deal in Australia, it has the potential to increase business productivity and provide many community benefits.

"We will consult with locals about what sort of commitments should be included in the deal, to build on the significant investments made by the Andrews Labor Government in the region."

A big ticket item already mooted for consideration for the regional deal is the creation of a new, greenfield site hospital for the Albury-Wodonga health service area.