The importance of cross-border cooperation in the socio-economic development of the border regions is emphasized and the need to develop its strategic directions is grounded. The authors confirm that the strategy of cross-border cooperation should be one of the sections of the state regional policy and policy of the border territorial entities, should contain key operational and thematic objectives, cover the financing mechanism and features of the instruments for its provision. The author’s approach to the definition of the main stages of the process of formation of the cross-border cooperation strategy at the regional level is proposed, their content, functional characteristics and key parameters for the implementation of the measures are disclosed. According to the author’s approach, the process of forming of cross-border cooperation strategy at the regional level should include the following steps: 1) identification of long-term goals of cross-border cooperation in the main functional areas: sustainable development, employment, tourism, transport, communications, environment, security, border infrastructure, etc.; 2) analysis of potential of transboundary regions in the retrospective and strategic aspects with specification of the matrix of SWOT analysis; 3) institutional and managerial support for cross-border cooperation; 4) determination of the most rational forms of CBC; 5) justification of volumes and sources of financial support of cross-border cooperation; 6) selection of CBC financing instruments; 7) definition of strategic alternatives and justification of the strategy of cross-border cooperation; 8) implementation, monitoring, control and evaluation of the impact and risks of cross-border cooperation. The process of forming of CBC strategy involves its implementation, monitoring, control, evaluation of performance and risks. This stage involves the study of the effectiveness of the CBC implementation, the degree of convergence and integration of transboundary regions in the context of risk management that accompanies this process. The strategy of cross-border cooperation should clearly define the overall long-term priorities of cooperation in terms of their specificity, time and financial dimension, flexibility and consistency. Strategic goals should reflect the basic European values and promote convergence of the regions of the countries on both sides of the border. 

cross-border cooperation strategy, thematic objectives, financial support, regional development policy, subjects and participants in cross-border cooperation