On 27 November, the Ministry of Economic Development and Trade of Ukraine
hosted a solemn ceremony of signing the Agreement on financing of the sector
policy support program Support to the regional policy of Ukraine. From the
Ukrainian side the document was signed by the acting Minister of Economic Development and Trade of Ukraine - Trade Representative Valerii Pyatnytsky and from the EU
- Johannes Hahn, Commissioner for
European Neighbourhood Policy and Enlargement Negotiations.
It should be noted that signing of the Agreement shall afford to draw the
EU assistance worth € 55 million (with € 50 million – as the funds of sector
budget support and € 5 million – as a technical assistance). The aid will be
directed to: improvement of normative - legal framework of the regional policy;
stable and predictable funding for regional development; strengthening of the
financial independence of local authorities; introduction of an effective
system of monitoring and evaluating the effectiveness of execution of the regional
policy; strengthening of the competitiveness of Ukrainian regions; improvement
of the economic, social and territorial cohesion of the regions.
The Agreement is planned to implement until
2020. The funds of the sector budget support will be
transferred to the state budget in tranches (the first is expected in 2015).