The Agency says the region is the most rural in the country

About £15m will help deliver change and improvement with a number of projects emerging from the Market and Coastal Towns initiative.

Over 50 towns and communities are involved with the initiative.

It aims to help communities plan their own future regeneration needs before they try to secure major investment.

Business support

The agency's three-year commitment will allow it to be clear and open about likely funding.

Other funding will come through the agency's Rural Renaissance initiative, its role in delivering the government's Strategy for Sustainable Farming and Food, plus its support for the new industry promotional body South West Food and Drink.

Rural Renaissance projects give support to smaller scale rural projects which are part of county-wide strategies, ranging from transport co-ordinators and community planning through to advice and guidance for rurally-based businesses.

Colin Molton of the Agency said: "For the first time, the South West RDA has been able to put a figure on funding available over a three-year period for projects and initiatives specially designed to benefit rural areas.

"This has to be the right way forward, considering the South West is the most rural region in the country.

"Businesses and communities are looking to us for support, and we want to be able to demonstrate that we will invest where we can, and where rural regeneration initiatives are tackling need within their local economies."