Financial Support of Old Industrial Territories` Revitalization: the Experience of the UK, the Czech Republic and Turkey

Abstract

Old industrial territories face economic, social and environmental problems emerging from the loss of traditional industries` markets, unprofitability and discontinuation of production activities, the occurrence of abandoned territories of former industrial use as a result of de-industrialization and reform of property rights. The governments of countries respond differently to these challenges depending on the institutions created at the supranational, state and regional levels, the amount of funds they have to overcome the economic, social and environmental insecurity of the inhabitants of such territories. In the article the world experience of financial support for the sustainable development of old industrial territories is generalized and recommendations regarding the possibilities of their use for the revitalization of such regions in Ukraine are substantiated. Three countries were chosen as objects of study: the UK, the Czech Republic and Turkey. The recommendations substantiated for Ukraine relate to the definition of project priority criteria based on the assessment of the level of development of territories according to a weighted index of several indicators, the set of which can be adapted to specific national conditions, but should reflect all components of sustainable development; using the possibilities of European integration in the field of innovation, science and education to form a modern policy for the revitalization of old industrial regions; using the State Regional Development Fund for the implementation of projects for the revitalization of old industrial territories; active involvement of regional development agencies in solving problematic issues of revitalization of abandoned territories of former industrial use. Keywords old industrial territories, industry, regions, revitalization, European integration.