EBED Project will help partner oblasts and cities collect all economic, demographic and financial data needed to design evidence-based planning  tools. The data will be collected in all oblasts and cities including sex-disaggregated data. Moreover, oblast and municipal officials  will be better prepared to provide economic, financial and demographic data as they play a key role in collecting and consolidating data in oblasts and cities. This will enhance capacity of oblast state administrations and municipalities for collecting and analysing data (including sex-disaggregated data) which are used to prepare evidence-based economic development plans.
Benchmarking the determinants of economic development at the regional and municipal level and using benchmarking to identify comparative and/or competitive advantage is an important first step in setting economic development priorities for the territory development. Benchmarks will permit regions and municipalities to know how they are doing relative to other jurisdictions with similar endowments. Benchmarking indicators will be chosen in consultations with responsible officials in each oblast and city. However, considering the economic development focus the list of indicators will include the following: GDP per capita, GDP growth, labour productivity growth, economic activity, corporate income after taxes, personal income after taxes per capita, industrial productivity, employment, employment growth, population with secondary and higher education, literacy, R&D expenditures, direct foreign investment, business climate and transportation cost.
This component will include collecting data needed for benchmarking as well as practical and theoretical training sessions for oblast and city officials. As a result officials and staff of oblast and city state administrations will be able to make overall benchmarking analysis for their city in order to identify comparative advantages, get credit rating and prepare proposals to attract foreign investment. The benchmarking report will be prepared and published.
This component will include generating demographic, economic and fiscal forecasts for EBED Project partner oblasts and cities. 
Demographic Forecasting
A special mathematical model will be created for demographic forecasting. The demographic forecasting model will be used to generate long-term projections for each oblast and municipality. The demographic forecast will help to elaborate a strategy for overcoming negative influence of key demographic trends in targeted Ukrainian oblasts and municipalities. The demographic forecast results will we used as a basis for fiscal and potential output forecasting.
Economic Forecasting
All long-term economic development plans and strategies can be enhanced through the development of a realistic economic context. The project will combine a forecast of the labour force with an outlook for labour productivity to develop a long-term potential output forecast for targeted oblasts and cities. The objectives of economic forecasting will also include identifying supplementary factors which influence productivity of economy in each oblast and city. The economic forecast will also serve as the basis for the fiscal outlook, which will create a realistic boundary around economic development strategies.
Fiscal Forecasting:
The final stage in developing the evidence for realistic economic development plans involves the creation of long-term fiscal outlooks. These fiscal outlooks will determine the amount of discretionary funding available to the regional and municipal administrations as they attempt to implement their economic development strategies. A fiscal forecasting model will be built for each region and municipality and their officials will be trained in the development of quantitative fiscal forecasts based upon these fiscal models. These fiscal forecasts will not only create realistic conditions for the economic development plans, but will also inform the state and regional governments about the fiscal requirements of their more decentralized levels of government. This again, will allow for the development of appropriate policy initiatives to help avoid fiscal shortfalls and mitigate the financial risks associated with economic development strategies.
The results of this component will include: demographic forecasting model and demographic forecast; potential output forecasting model and economic forecast; fiscal forecasting model and fiscal forecast; overall analytical report on social and economic development. Strategic development plans of EBED Project partner oblasts and cities  will be improved based on generated projections and economic analysis.
This component aims to enhance capacity of officials in Lvivska and Dnipropetrovska oblasts as well as in Nikopol, Kryvyi Rih, Dnipropetrovsk, Lviv, Chervonohrad and Drohobych for economic developmenplanning with the use of analytical and forecasting tools. Officials of the mentioned oblasts and cities are envisaged to pass theoretical and practical training in benchmarking, fiscal, economic and demographic forecasting, MS Excel, strategic environmental assessment and gender budgeting.  After training sessions the participants will use their new forecasting knowledge and participate in preparation of EBED Project reports: fiscal, economic, demographic and benchmarking. When EBED Project is over the training participants will need to update and maintain forecasting models, generate projections and write reports.
Within the framework of cooperation between EBED Project and the National Academy of Public Administration under the Office of the President of Ukraine (NAPA) and its regional public administration institutes in Dnipropetrovsk, Lviv, Odesa and Kharkiv additional components will be developed and further improvements will be made to NAPA's curriculum on strategic development planning for territories which will include evidence-based economic development planning for territories in particular using prospective analysis and benchmarking as well as identifying relevant risk management strategies which would be based on results of demographic, fiscal and economic forecasting.
Moreover, NAPA instructors will pass theoretical training in teaching evidence-based economic development planning for territories with the use of benchmarking including relevant identification of opportunities and risk management strategies based on demographic, fiscal and economic forecasting; manuals with the material on quantitative analysis, forecasting and strategic development planning for territories will be developed and published.