April 18 2003, 09:31 Interfax-Ukraine

Some $2 million will be invested in two poorest rural areas of Dnepropetrovsk region

Ukrainian Fund of Social Initiatives intends to realise within the next 2.5 years a project for development of rural areas in Dnepropetrovsk region, worth $1.78 million.

A representative of the Fund has informed that the funds will be allocated to the needs of the two rural districts, which are to be determined in the nearest time, after examination of statistical data. The representative said it would be some of the poor, ecologically endangered districts, with weakly developed social infrastructure.

He also said that 90 percent of the funding would come from the loan of International Bank for Reconstruction and Development. The rest of the finance should be found by local authorities, and no more than 2 percent should be the contribution of inhabitants of the districts themselves.

It is planned that a part of the invested funds (up to $150,000) would be directed on realisation of micro-projects: construction of hospitals, child care institutions, reconstruction of communal networks.