INVESTMENT SUPPORT FOR THE DEVELOPMENT OF THE MATERIAL AND TECHNICAL BASE OF CIVIL CONSTRUCTION IN UKRAINE

Abstract

The article examines the investment provision for developing the material and technical base of civil construction in Ukraine under conditions of full-scale war and European integration. A structural anomaly of sectoral financing is revealed: in 2024 capital investment in the economy grew by 35.1 % and reached UAH 534.4 billion, yet 71 % was financed from enterprises' own funds, while foreign investment amounted to merely 0.1 %, and only 7.8 % of the total was channelled directly into construction. It is substantiated that this self-financing model is physically incommensurate with reconstruction needs, which according to the World Bank's fifth assessment (RDNA5) approach USD 90 billion for the housing sector and reach almost USD 588 billion for the entire economy. The material and technical base of a construction enterprise is analysed as an economic category, and it is shown that the official depreciation indicator for the sector's fixed assets (36 % for 2016) masks the critical wear of the active part of the production stock, the real condition of which is concealed owing to the suspension of sectoral statistics during wartime. The regional differentiation of housing construction is disclosed, with concentration in the Kyiv, Lviv and Odesa regions and the actual exclusion of frontline regions. State policy instruments are assessed — the «eOselya» preferential mortgage, reoriented towards the primary market, and the reform of urban-planning control through the establishment of the SIAUP. European capital-mobilisation mechanisms (the Ukraine Investment Framework, EIB, EBRD, KfW) and the transition to Eurocodes as a condition for admitting external financing are considered. A guarantee-based, hybrid, Euro-integrated and technologically advanced model of investment provision is proposed, combining the stimulation of domestic demand, the distribution of war risks through international guarantees, and the technological modernisation of the base by means of modular construction and BIM technologies.