TIME is running out for organisations in Newport hoping to get a slice of Euro cash.

There is just one week left to get in applications for the latest round of Objective 2 and 3 European funding.

With the city's first Objective 2 project - the Ringland Regeneration Scheme - recently being approved, it is hoped more people will be encouraged to apply.

Attracting £145,000 in European funding - match-funded by Newport council - the £300,000 project is designed to improve facilities and community safety at Ringland Centre.

As a further encouragement the European Unit, along with other local authorities, has worked with WEFO (the Wales European Funding Office) to revise the Objective 2 application process so it can be made in a single stage.

With a combined total of £6.1 million available, the European Unit is looking for good quality applications that are innovative, fill a gap in the market and address the Local Action Plan.

* The Objective 2 European Regional Development Fund is available on a match-funded basis to support projects that provide small and medium-sized enterprises with advice and guidance and allow the development of sites and premises.

Projects cannot be for a single company, but must benefit the wider community.

* The Objective 3 European Social Fund is available on a match-funded basis for organisations like community groups, voluntary organisations and the private sector. The deadline for the latest round of Objective 2 and 3 funding is March 31.

For further information, contact the European Unit, Civic Centre, Newport, NP20 4UR, call 01633 232237, or you can email European@newport.gov.uk

For an application form and the Objective 2 and 3 Local Action Plans, visit the website at www.newport.gov.uk/about/thecouncil/eurofunding