The Ministry of Finance and the Council of Europe Development Bank (CEB) discussed cooperation in the social sector. Ukraine to receive €155 million by the end of the year for the implementation of joint projects

In Washington, D.C., Minister of Finance of Ukraine Sergii Marchenko met with Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli during his working visit to the United States as part of the IMF and World Bank Annual Meetings.

The meeting was also attended by Deputy Minister of Finance Olga Zykova, Deputy Minister for European Integration Yuriy Draganchuk.

The parties discussed the implementation of joint projects with the Bank in the social sphere and the expansion of cooperation through the launch of new projects.

Key areas of cooperation with the CEB focus on addressing Ukraine’s urgent needs in healthcare and housing policy, including providing housing for citizens of Ukraine, in particular internally displaced persons (IDPs).

“Supporting Ukrainians and creating safe and comfortable living conditions for our citizens during the war remain a key priority for the Government. Over more than two years of cooperation, we have already implemented a number of important social projects that have improved the lives of thousands of Ukrainians, and we look forward to strengthening our partnership further,” said Minister of Finance Sergii Marchenko.

Currently, the CEB is implementing four social sector projects in Ukraine totaling EUR 550 million. These include: 

• Health Enhancement and Lifesaving (HEAL) project worth EUR 100 million; 

• a housing project “HOME: Compensation for Destroyed Housing” worth EUR 200 million; 

• projects to support IDPs - “Housing for Internally Displaced Persons” worth EUR 50 million; 

• “Support for Internally Displaced Persons in Ukraine” worth EUR 200 million.

To date, Ukraine has utilized over 57% of loan funds, or EUR 315 million, under these projects. It is expected that by the end of the year, Ukraine will receive an additional EUR 155 million in loans under joint projects with the CEB to support IDPs and provide compensation for destroyed housing.

Carlo Monticelli reaffirmed the CEB’s commitment to supporting social development and recovery in Ukraine.

As a reminder, in June 2023, Ukraine became the 43rd member state of the Council of Europe Development Bank. In November, Deputy Minister of Finance Olga Zykova was appointed by Presidential Decree as Ukraine’s representative to the CEB Administrative Council.