Organizational support in selecting public investment projects at regional and local levels

Анотація

The article explores the organizational foundations for the selection and financial management of socio-economic development projects at the regional and local levels within the framework of public investment reform in Ukraine. It highlights the institutional prospects for newly established units within regional state administrations and local self-government bodies tasked with managing public investment processes, particularly in the domains of expert evaluation and sectoral analysis. A comprehensive system of measures, procedures, and resources is examined, aimed at fostering transparent, evidence-based, and efficient expert activity. The author identifies specific responsible authorities for each procedural stage, thereby contributing to the institutional clarity and operational feasibility of the reform. As a key outcome of the study, the author proposes a model for a public investment project management team that integrates external expert and advisory support. The model delineates the roles, formats of participation, and influence mechanisms of involved institutions, which are categorized into two primary support functions: (1) information and consulting services, and (2) financial brokerage. Information and consulting services for the analytical components of regional and local development projects may be provided by regional institutes of the National Academy of Sciences of Ukraine specializing in regional economic development and spatial planning. Sector-specific expertise may be sourced from branch institutes of the National Academy of Sciences, specialized higher education institutions, local business associations, and regional chambers of commerce and industry. Financial mediation (brokerage) services, essential for securing co-financing of development initiatives, may be delivered by regional and local development agencies operating within the territories of project implementation. Additionally, industry associations, local business groups, and regional chambers of commerce and industry may contribute to financial intermediation.

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