Lietuvos mokslų akademijos Leidybos skyrius

The paper sets the stage by reviewing the concept of rurality and the characteristics of rural areas. The scope of rural development is explored, and a wide variety of stakeholders is enumerated.
While it is often believed that the wellbeing of rural areas depends on wellbeing of farms and farmers, there is increasing evidence that farm wellbeing depends at least as much if not more on the wellbeing of rural communities. Thus, increased evidence on this interdependence and especially the linkage of farm prosperity to the health and growth of rural economies is important in exploring the role of different stakeholders. The remainder of the paper discusses strategies, especially for new member states (NMS) of the EU, in meeting the significant resource needs for rural districts.
It is important to recognize that success of rural development depends on human, financial and physical assets, and that improved economic performance and consequently improved incomes and quality of life for rural inhabitants derives from the acquisition and efficient use of these assets. Investment in any and all of these assets is critical to success, and the sources of such investment are comprised of both public and private resources and both national and international (EU, bilateral funds, IFIs) resources. The scope of EU public resources includes the ERDF and ESF as well as the EAFRD and EFF. One of the challenges for any country is exploiting the synergies that can be realized by effective planning, managements and coordination of support strategies and programmes under these various public investment sources and by efficient stimulation of private sources which in most economies are the largest source of investment.
There are various factors that are important in overcoming constraints to successful rural development and in exploiting the opportunities that exist for rural economies. The paper explores each of these factors and their contribution to making most effective and efficient use of available sources of financing for rural development.

Keywords: financing, regional development, rural development, rural–urban linkages, territorial approach

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