JUBILANT campaigners in West Devon say they are sure match-funding will be found to take advantage of the massive Euro-cash boost announced last week.

The £108-million Objective 2 funding injection for the county agreed by European Commissioners will be allocated on a district basis — provided 50 per cent funding for projects is raised first.

John Burnett, West Devon and Torridge MP, said he would do everything in his power to make sure the area was able to raise money required to take advantage of European funds.

'I am actually very optimistic we will find match-funding — it's up to us to find viable schemes.

'It's always been what I call catalyst funding — there are many places we can go for bolt-on money, including the private sector.'

Mr Burnett said he was 'absolutely delighted' with the news.

'I always said we had an outstanding bid. We now have a five-year window of opportunity and we must seize it and make the most of it.

'It's particularly important because it gives a chance to so many of our young people, enabling us to keep them in the area. In the past we were a great exporter of talent — now we have the opportunity to redress the trend.'

He paid tribute to the hard work of the campaign partners, including West Devon borough and county council officials.

The decision means areas like West Devon will receive grants towards projects which encourage business, attract inward investment and jobs, assist the socially excluded in disadvantaged areas and help local people learn new skills.

David Incoll, chief executive of West Devon Borough Council, said it 'wouldn't be easy' to raise the match-funding required for projects but he thought there was goodwill and a lot of opportunities to raise investment.

'For example, the government has just announced extra funding for areas of natural beauty, so if we think about the Tamar Valley, there are things that can be done there,' he said.

'I must stress this money is available for the whole community — it's not council money. Anybody who wants to be involved should let me know their ideas.'

He added: 'This is a tremendous Christmas present for West Devon, particularly with all the bad news related to agriculture.'

Mr Incoll said a document would be produced early in the New Year, setting out the issues the borough feel need particular attention.

'It's all about raising incomes and job opportunities — we have led on agriculture, it's the key issue in this area,' he said.

Cllr Noel Cartwright, leading borough councillor on European matters, said: 'I am determined that West Devon, working with neighbouring districts, will produce a programme that really will help regenerate the rural economies.'

The priority targets have to be approved by the European Commission, then a monitoring committee will oversee bids for funding to ensure they meet regional priorities.

The money is likely to be released towards the end of next year.