SOURCES OF FINANCIAL SUPPORT FOR REGIONAL INVESTMENT PROJECTS IMPLEMENTATION

The investment reform in Ukraine envisages the implementation of national and regional projects. Most national projects are in the early stages of implementation to date. Development and implementation of such projects of various scales can ensure the development of a region through the formation of leading clusters. Cluster formation is a complex process. Its duration and other features depend on the particular area of economic activity, future composition of cluster members, their level of cooperation activity. The concentration of the food industry and the priority of agriculture development form the prerequisites for creating a cluster which processes meat and milk to support implementation of the investment project "Village of Future". Based on the current approaches to investment decision-making, the author developed an algorithm of participation in the implementation of an investment project for a company intending to join a cluster. When a decision about the project implementation has been made by a cluster member, the process of accumulation of resources for its financial support begins. The project "Village of Future" is funded by private investors and through government support. The volume of investments is 1146.8 mln UAH. Companies which process meat and milk might be most interested in the implementation of the project "Village of Future" among the economic entities of the North-East economic region. Unappropriated balance is a main source of companies' own investment resources to be used for the investment project implementation. Companies processing meat and milk in the North-East economic region have a significant investment potential. Implementation of the investment by the net equity is a powerful tool of financial support because it does not require high cost for use and additional guarantees from the government. Using the cluster mechanism for financial support of an investment project is an effective way of its implementation