Tourism, business and the environment will all benefit under the Objective 5b Programme which encourages economic development in rural areas.
Mr Kynoch said: 'I am delighted to announce that additional funds are being provided to the North and West Grampian following our hard work to achieve European Objective 5b status two years ago.
'The latest approvals which follow on from the £10m worth of European Funding committed previously, will deliver substantial assistance to people living in the largely rural area and will go some way to achieve more of the aims and objectives of the Programme agreed for the area.
Examples of projects approved include:
Small Business Support schemes for SMEs throughout Moray and Aberdeenshire (£167,000), a new dry dock facility at MacDuff Harbour (£732,500) to be used solely and exclusively for fishing vessels, Moray Council Caravan Park developments (£36,450), Grampian Tourism Computer link project (£110,000) and the Formartine and Buchan Way (£34,500) which will complete part of the final link between Maud and Fraserburgh.
Beneficiaries also include Grampian Enterprise's Distance Learning project, and Banff and Buchan College's IT/Flexible Learning Facility.