OREANDA-NEWS. September 25, 2008. The EU and Ukraine are launching a project aimed at support of planning of regional policy and financing of local infrastructure. So, on September 22 the Ministry of Regional Development and Building of Ukraine and the European Commission in Ukraine held a presentation of the EU financial project “Sustainable Regional Development in Ukraine”.

The project with the budget of 6 million Euro is directed at improvement of the policy of regional development and effective management of the regional growth.

“Sustainable regional development in Ukraine” implies introduction of three main components, such as:

-  component A is directed to the assistance to the Government of Ukraine in strengthening of its potential for effective management of regional development, in creating adequate political, legal, institution frames, structure of strategic planning and coordination schemes and mechanisms;

-  component B focuses upon support of Ukrainian power structures in the development of main instruments of regional development, creating a Fund of regional development and models of activation of domestic and foreign resources, investment planning and coordination;

-  component C includes two principal directions of introducing of the first two components –  development of domestic resources for regional development management on the national as well as regional levels with an aim to effectively introduce the plans of the development, notably, Action Plan of the National Strategy of Regional Development;

introduction of a “learning through activity” approach aimed at the procedures of concluding of contracts targeting the projects in sustainable regional development sphere, their introduction and monitoring.

Consequently, according to Deputy Minister of Regional Development and Building of Ukraine Anatoliy Tkachuk, a project concept provides with instruments and creates opportunities for the sustainable regional development along two principal lines: creating of principles for the political, legal and institutional bases; introducing with activation of financial resources and development of domestic capacities.

The mentioned project on regional development is being introduced through 2012. It is a part of complex branch approach to the sustainable regional development and will supplement a series of current, financial projects of the EU connected to local development in Sumy, Chernihiv, Kharkiv and Luhansk regions. A pilot region in one of the areas will be granted with monetary assistance to the tune of 9 million Euro.