The Council of Europe Development Bank (CEB) has provided Ukraine with an additional financial package of €300 million to assist citizens affected by the war. The funds will be used to support internally displaced persons (IDPs) and to compensate for the loss of housing due to Russia’s armed aggression.
This is reported by Business • Media
Funding for Compensation for Destroyed Housing
As part of the HOME project, Ukraine has received a loan of €100 million from the CEB. These funds will be directed towards issuing housing certificates under the “eRecovery” program. The certificates allow certain categories of citizens who have lost their homes due to Russian aggression to purchase new real estate. In addition, the funding is enhanced by a €10 million grant from the European Union, provided through the Ukrainian Investment Platform.
Certificates are issued to specific categories of citizens for the purchase of new housing, instead of that destroyed as a result of Russia’s aggression.
In the second half of 2024, a similar loan of €100 million has already enabled support for approximately 3,000 families who have lost their homes. It is estimated that over 300,000 residential properties have been damaged or destroyed in Ukraine.
Assistance for Internally Displaced Persons
An additional €200 million in loan funds from the CEB will be allocated to provide housing and essential support for 1.2 million internally displaced persons across the country. Amid the war, the number of IDPs in Ukraine continues to rise, and currently, approximately 4.6 million such individuals are officially registered in the country.