The State Regional Development Fund is an effective instrument for decentralization and incentive to promote regional development, infrastructure development and the social sphere. In 2017, a record amount of funds - almost UAH 1.17 billion - was raised from local budgets to co-finance investment projects of regional development within the framework of the SRDF. This makes up over 33% of the total financing of the SRDF, which last year amounted to UAH 3.5 billion. At that, mandatory guarantee co-financing from local budgets for the projects funded from the SRDF is 10%. Vice Prime Minister, Minister of Regional Development, Construction, Housing and Communal Services of Ukraine Hennadii Zubko wrote on Facebook page.

He told that within the framework of the State Regional Development Fund in 2017 there had been launched 790 investment programs in the regions of Ukraine. "There were completed and put into operation 399 facilities. Those included the construction and reconstruction of social facilities (hospitals, schools, kindergartens), restoration of bridge infrastructure, thermo-modernization measures, etc. Most facilities were completed in Ternopil (44), Sumy (44), Zakarpattia (41), Chernihiv (33) regions. Apart from that, regions have the opportunity to continue projects having launched earlier. For the third consecutive year, we are pursuing a policy under which projects started at the account of the SRDF funding must be completed and put into operation according to the schedule, instead of being transformed into uncompleted construction projects," urged Hennadii Zubko.

"In 2018, we budgeted an increase in funding of the SRDF up to UAH 6 billion. The regions have almost twice the potential and resources for infrastructure development. And we can see which areas are actively preparing relevant projects. Thus, Poltava and Kharkiv regions have already submitted their proposals and investment programs that they plan to implement in 2018," said Hennadii Zubko.

The Vice Prime Minister added that recently the Government had approved the bills drafted by the Ministry of Regional Development, Construction, Housing and Communal Services which make it possible to finance projects in the next fiscal period, to simplify procedures for access to the SRDF resources, to accelerate and provide stable financing of regional development projects. It is about draft laws "On amendments to the Law "On the principles of state regional policy "and" On amendments to the Budget Code of Ukraine on improving the mechanism of financing of regional development projects".