At the initiative of the Ministry for Communities and Territories Development, the Government amended the Resolution of the Cabinet of Ministers of Ukraine №196 “Certain Issues of the State Regional Development Fund”. The innovations concern the procedure for preparation, evaluation and selection of investment programs and projects that can be implemented from the State Regional Development Fund (SRDF).

“Coherence of actions and priority of tasks are the main principles that we should be guided by when selecting projects that can be financed from the SDRF. We focus on large projects, the implementation of which will have the greatest effect on the development of the regions. It is important that the changes approved by the Government update a number of provisions in accordance with the State Regional Development Strategy for 2020-2027, as well as synchronize the selection of SRDF projects with regional development strategies," said Minister for Communities and Territories Development Oleksii Chernyshov.

Major changes include:

• The timeframe for selecting programs and projects to be funded by the State Regional Development Fund has changed. The deadline is August 1. This means that by this date the Ministry for Communities and Territories Development together with the regions will form lists of projects to be funded in the next, 2022.
• The lower limit for new projects that can be financed from the State Regional Development Fund has been increased. It will make up at least UAH 10 million. In this way, we abandon the practice of sсattering funds from the state budget for small projects and focus on significant objects.
• The term of implementation of large projects worth more than UAH 100 million has been increased to 5 years. Previously, this period was 3-4 years.

From now on, the Ministry for Communities and Territories Development together with the regional authorities will agree on the terms of reference for which competitive selection for SRDF projects is announced. This will ensure that resources are focused on clear priorities that are in line with regional development strategies.