July 25, 2024

Housing Finance Development

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Council of Europe Development Bank to provide Ukraine with 100 million euros for compensation for destroyed Housing – Ministry of Finance

The Development Bank of the Council of Europe will provide Ukraine with loans of 100 million euros under the project “Nome. Compensation for destroyed housing”. This is reported by UNN with reference to the Ministry of Finance of Ukraine.

Details 

The agreement was signed on the sidelines of the International Conference on the restoration of Ukraine by Finance Minister Serhiy Marchenko and Head of the Development Bank Carlo Monticelli.

The ministry explains that the project HOME will be implemented throughout the controlled territory of Ukraine. The funds raised will be used to support the mechanism of direct assistance (housing certificates), thanks to which the ultimate beneficiaries, including participants in military operations, disabled people and large families, will receive compensation for housing destroyed as a result of military operations and terrorist attacks of the Russian Federation in the form of certificates for the purchase of housing. 

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Russia’s full-scale war has caused more than.50 billion in damage to Ukraine’s housing sector. The HOME project will help affected citizens return to a comfortable life as soon as possible. (…) Further implementation and development of social support projects will contribute to sustainable social development and recovery

– Sergey Marchenko noted during the event.

It is noted that the project is being implemented as part of the service  “renewal”. citizens can make requests and, as a result, receive certificates of compensation for damaged property.

The process of checking applications, as well as selecting requests, is carried out by a special State Compensation Commission. You will be able to track the progress of the case in the Diya mobile app. 

I am pleased to sign the first loan agreement between Ukraine. This is just the beginning. As Europe’s leading social Bank, BRRE intends to support the long-term social development and social integrity of Ukraine, as well as its restoration and reconstruction.

– – said the head of BRRE Carlo Monticelli

Addition

Ukraine’s representative in the Bank’s Administrative Council, Olga Zykova, said that Ukraine joined the BPA less than a year ago, and is already implementing two important social projects to finance the Bank.

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According to her, this shows confidence in Ukraine as a partner and commitment to support us in the face of constant challenges of a full-scale war. 

I am convinced that our further cooperation will contribute to the successful implementation and development of new financial and credit programs in the social direction

Olga Zykova noted. 

Recall

Prime Minister of Ukraine Denys Shmyhol said that  Ukraine needs annual investments in the amount of 1 10-30 billion over the next 10 years.

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