OREANDA-NEWS. May 20, 2011. The Government will adopt the mechanism of state support of priority investment projects in real sector of economy and the procedure for granting subventions to local budgets for investment programs. The Prime Minister Mykola Azarov told this at the session of the Cabinet of Ministers of Ukraine.

"Today will be considered a mechanism of state support for priority projects of investment in real sector of economy. The selection of these projects will be done on a competitive basis. Support will be provided by the terms of co-financing of projects by business entities for their own or borrowed funds, - Mykola Azarov told.

In addition, as noted the Head of the Government at the session it will be approved the procedure and conditions for granting subventions to local budgets for investment projects or programs: “These programs also will be implemented under co-financing from local budgets (from 25% - for Kyiv to 5% - for the city, district or village budgets). The funds will be focused on implementing energy-saving technologies, construction and reconstruction of social and cultural institutions and the development of road and utilities, ecological and environmental protection measures.