Ministry of Finance: Ukraine is preparing to become a member of the Council of Europe Development Bank (CEB)

Today, September 29, Deputy Minister of Finance Olga Zykova and Director of the Department of International Financial Projects Kateryna Elishyieva met with representatives of the Council of Europe Office in Ukraine to discuss the issue of Ukraine's accession to the Council of Europe Development Bank (CEB).

In accordance with Ukraine's implementation of the Sustainable Development Goals and PACE Resolution 2198 (2018) "Humanitarian Consequences of the War in Ukraine", the Interagency Group on Ukraine's Membership in the CEB was created. The goal is to provide housing for citizens of Ukraine, including internally displaced persons, and to facilitate the implementation of the state housing policy. The cooperation also includes the development of new financial and credit programs, the implementation of international investment projects, including for further crediting of IDPs.  

“We highly appreciate the opportunity to use the considerable experience of the Council of Europe Development Bank regarding the implementation of important social projects at this difficult time for Ukraine. The Ministry of Finance is already working with relevant Ministries on potential joint projects with the Bank. Cooperation with the CEB, in addition to the application of successful experience in the modernization of housing programs and financing mechanisms in Ukraine, can have a financial impact on the implementation of housing construction projects for socially vulnerable sections of the population, including the provision of loans to overcome the consequences of the russian federation's full-scale armed aggression against Ukraine", noted Olga Zykova.

Information

The Council of Europe Development Bank is a multilateral financial institution with a social orientation. The CEB was created in 1956 with the aim of solving issues related to the socially oriented reintegration of refugees, displaced persons and migrants by European countries. Membership in the Bank is open to all member states of the Council of Europe and European countries. Currently, the Bank's members include 40 member states of the Council of Europe, the Holy See and Kosovo.

The current activities of the CEB are divided by sectors: refugees and migrants, construction of social housing, improvement of living conditions, environmental protection, overcoming the consequences and prevention of natural disasters, education, health care, preservation of cultural heritage, public administration, support of small and medium businesses. The advantage of CEB is expertise not only in the financial and economic fields, but also in the areas of civil infrastructure construction, housing construction, education, and health care.