The industrial park in Dnipro has become the first park to receive funding under the state program to stimulate the development of industrial parks within the framework of the Made in Ukraine policy, the Ministry of Economy reported on Friday.

"The management company of the park has requested the allocation of UAH 150 million out of the required UAH 326.9 million for the construction of a transformer substation," the press release of the Ministry of Economy says.

According to the catalog of industrial parks of the ministry from May of this year, only one park has been registered in Dnipro since November 2018 – Innovation Forpost next to the territory of Interpipe Nyzhniodniprovsky Pipe Rolling Plant. The management company is Dnipro Development Agency of Dnipro City Council. The total area is 49.5 hectares of municipal land. The design capacity of the power supply is 16.5 MW, the existing capacity is 100 kW.

The Ministry of Economy reminds that the state program provides for financing up to UAH 150 million to ensure the construction of the necessary infrastructure. The funds are provided on a non-repayable basis, covering up to 50% of the estimated cost of work, such as landscaping or construction of engineering and transport infrastructure. The program also provides for compensation of up to 50% of the cost of connecting to the power grid. For de-occupied territories, the state covers 80% of the cost.

"Calculations show that one hectare of an industrial park allows for the creation of 50 new jobs, and $1 of state investment in the infrastructure of industrial parks attracts $6 additional private investment," said First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko.

It is indicated that protective measures have been established to protect the interests of the state: applicants are required to build at least 5,000 sq m of industrial buildings on the territory of the park within three years and attract at least two participants. Financing is carried out through escrow accounts in state-owned banks, which allows to choose the most convenient bank for servicing.

This year, UAH 1 billion was allocated in the state budget for the first time to stimulate industrial parks. The Ministry of Economy's partners in implementing the program were state-owned Ukreximbank, Oschadbank and Ukrgasbank.