Economy 2020-10-15T07:22:49+03:00
Ukrainian news
EU Assigns EUR 23 Million For Financing Regional Development Programmes And Projects In Ukraine

EU Assigns EUR 23 Million For Financing Regional Development Programmes And Projects In Ukraine

Ukraine, EU, development, programme, projects, allocation

The European Union has allocated EUR 23 million for financing regional development programmes and projects in Ukraine.

First Vice Prime Minister / Minister of Regional Development, Construction and Housing and Utilities Hennadii Zubko said this at a Cabinet of Ministers session, Ukrainian News Agency reports.

The European Commission made the decision to provide the first tranche as part of performance of the agreement on financing the sectoral policy support - regional policy support programme last week.

In all, EUR 55 million will be assigned under this agreement.

Zubko says that they will select at a competition the projects to receive finances redistributed from the EU assistance.

A workgroup will be set up for this purpose and it will be helping the competition committee to select programmes and projects.

The order of application of the funds and selection of the projects was endorsed today at the Cabinet meeting.

A second tranche of EUR 12.5 million is expected in 2017 and a third (EUR 12.5 million) in 2018.

The rest of the amount will be allocated towards expiration of the agreement.

As Ukrainian News Agency earlier reported, the European Union, the United Nations and the World Bank estimate the carrying-out of the government programme for restoring and advancing peace in the eastern regions of Ukraine at USD 1.52 billion.

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