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the disruptions of war, support the country's postwar recovery, and promote economic growth as Ukraine moves forward on the path to EU membership. The EFF is set to provide $5.4bn in budgetary assistance for 2024, with $880mn already disbursed following a successful review in March. The total EFF amount for 2023-2027 is $15.6bn, part of a larger international support package for Ukraine.
Ukraine will receive up to €100M from the EIB for business lending. Prime Minister Denys Shmyhal said the Cabinet of Ministers support Ukraine attracting up to €100M from the EIB. These funds will be directed to lending to small and medium-sized businesses. He added that Ukraine has already received $11.8B in international financial aid from partners this year.
The EIB is preparing a pilot project to finance social housing construction in Ukraine and will provide €400M. According to EIB representative Grzegorz Hajda, the initiative will be accompanied by an EU grant contribution. As part of the project, social housing will be developed in several cities in Ukraine that will be selected jointly with the Ministry of Reconstruction. This housing will be rented at preferential rates and in safe conditions. This housing must have high energy efficiency, be of high quality, be located near social infrastructure, and have good, safe long-term living conditions for people who need it. In particular, internally displaced persons and local citizens," said the EIB representative. Mr. Hajda also noted that the €400M funding is just the beginning because this program should be increased at least tenfold to have a significant impact on life in Ukraine. The Deputy Minister of Social Policy noted that the government, together with international partners, is working on legislation that will allow the creation of effective tools to support people through social housing funds.
6.1.4 Budget dynamics - privatisation
Ukraine aims to privatize all non-core assets to attract investment and ensure economic growth. Vitaly Koval, the head of the State Property Fund (SPFU), drew attention to figures confirming the effectiveness of privatization. In five months of this year, the SPFU attracted more funds from privatization than in the whole of 2018. "Privatization is timely because it is not the time to increase the losses from state-owned enterprises. This is an important component of the state property management policy. Privatization does not mean closing enterprises, but on the contrary - it gives them a new life," Koval said. He recalled the privatization of the Marylivsky distillery, the sale of which brought the state budget more than ₴200M. Moreover, last month the distillery's new owner started bioethanol production. In total, the project attracted more than ₴500M in investment in Ukraine's economy. Also, the SPFU will try to re-sell the PentoPak factory, which produces packaging for meat and sausage products, with the starting price halved to ₴101.87M.
Ukraine is preparing the Kozatskiy Hotel for privatization and will try to sell a nationalized agricultural company formerly owned by a Russian billionaire. The State Property Fund of Ukraine (SPFU) is preparing the Kozatskyi Hotel in Kyiv on Independence Square for privatization with a starting price of ₴155.4M ($3.8M). The hotel has a total area of 9,513 square meters. The hotel has a café, restaurant, 126 rooms, and five conference halls. In addition, on June 28, the SPFU will hold an online auction to sell the nationalized agricultural company Investagro, which previously belonged to the sanctioned Russian billionaire Mykhailo Shelkov, with a starting price of ₴48.9M ($1.25M). Investagro is an active agricultural company in the Dnipropetrovsk region that harvests sunflower, millet, rapeseed, and wheat. The company owns 25 registered real estate and infrastructure units, including
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