Regional project finance is an important national economic instrument for regional develop-ment in Sweden. Despite that, the research on the subject is limited meaning that there is little knowledge of the instrument’s distribution and consequences. This is problematic regarding the goal of the project funds, which is to contribute to growth throughout the country. The aim of this thesis was therefore partly to investigate how the distribution, and the applications of, regional project funds differ between Swedish municipalities with different geographical characteristics, partly to analyse the reasons for these differences. The study was a qualitative case study of Västerbotten and was divided into two parts. The first part was based on a data material on project funds of Region Västerbotten between 2014-2020 to examine how the project funds were applied for, and distributed, between the region´s municipalities during that period. The second part was mainly based on transcripts from interviews with municipal officials from six municipalities to examine the explanations for those differences. The result shows that there are significant differences between municipalities with different geographical characteristics of Västerbotten which is explained by differences in access to resources and participation in collaborative projects between the municipalities. In conclusion it therefore seems to be some challenges in enabling the whole country to take advantage of these funds.