The procedure for distribution of funds, allocated for regional development, is approved

On March 18, the Cabinet of Ministers approved “The order of preparation, evaluation, and selection of investment projects of regional development”, which will be financed by the State Fund for Regional Development in 2015, and “The order of usage of the Fund’s finances”.

3 billion UAH were allocated from the budget for the State Fund for Regional Development.

The funds will be distributed among the regions according to the following criteria: 80% of funds – among all the regions, proportionally to the population numbers, 20 % – to support the regions, where gross regional product per capita is below 75 % of the country’s average indicator.

According to Yuri Tretiak, deputy head of EU Project “Support to Ukraine’s Regional Development Policy”, this is the first time, when finances from the Fund will be distributed with individual needs of the regions taken into consideration.

According to Vice-Premier-Minister of Ukraine, the Minister of Regional Development, Construction, and Housing and Communal Services, Gennadiy Zubko, beside construction of social and infrastructural objects, the funds will be directed at support of decentralization, as well as support of territorial communities, which are going to unite.

Source:

kmu.gov.ua

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