The Ukrainian government has made a decision to attract loans from the Council of Europe Development Bank and the European Investment Bank to provide housing for Ukrainians and restore infrastructure. The total loan amount from the CEB will be €100 million (approximately ₴4.8 billion), as announced by Prime Minister Denys Shmyhal.
This is reported by Finway
“These funds will be used to compensate owners of destroyed housing under the ‘eRecovery’ program,” Shmyhal clarified.
He also noted that last year, thanks to the funds received from the bank, it was possible to finance 2,800 housing certificates. Currently, the new funding will allow for the payment of an additional 3,600 certificates, which will be an important step in restoring housing conditions for Ukrainians.
Providing Housing for Internally Displaced Persons
Additionally, the government has made a decision to provide housing for internally displaced persons. The CEB will allocate €50 million, which will ensure preferential lending for approximately 1,100 families in need of assistance.
Cooperation with the EIB
With the European Investment Bank, Ukraine has also agreed on financing of €100 million under the Ukraine Facility instrument. These funds will be directed towards the restoration of water supply and sewage systems. Additionally, Ukraine will receive a new tranche from the EIB amounting to €100 million for reconstruction in the areas of water and heat supply, education, and healthcare, as well as for improving living conditions for internally displaced persons.