Ukraine and the CEB signed a €50 million Loan Agreement for affordable housing for internally displaced persons

Ukraine and the Council of Europe Development Bank (CEB) have signed a Framework Loan Agreement worth EUR 50 million under the project “Housing for Internally Displaced Persons”. The allocated funds will allow Ukrainians who lost their homes in occupied territories to access concessional long-term loans for purchasing new housing in government-controlled areas.

The signing ceremony was attended by Ukraine’s Representative to the Administrative Council of the CEB and Deputy Minister of Finance of Ukraine Olga Zykova, Deputy Prime Minister for Restoration of Ukraine - Minister for Development of Communities and Territories of Ukraine Oleksii Kuleba, First Deputy Minister for Development of Communities and Territories of Ukraine Alona Shkrum, Deputy Ministers for Development of Communities and Territories of Ukraine Maryna Denysiuk and Nataliia Kozlovska, and Governor of the Council of Europe Development Bank Carlo Monticelli.

The agreement was signed online.

Oleksii Kuleba signed on behalf of Ukraine as Deputy Prime Minister for the Restoration of Ukraine and Minister for Communities and Territories Development, while Governor Carlo Monticelli signed on behalf of the CEB.

Deputy Minister of Finance Olga Zykova expressed her gratitude to the Bank's leadership and team for their cooperation with Ukraine, which enables the Government to implement critical social projects.

"Thanks to the support of the Council of Europe Development Bank, over 2,700 families of internally displaced persons were able to obtain housing in 2024. I am grateful to the Bank for this significant contribution to Ukraine’s recovery and reconstruction, and to ensuring a decent life for our citizens. Today’s signing of the Framework Loan Agreement continues this successful cooperation and reaffirms our shared commitment to systematically supporting the most vulnerable populations - to provide housing for Ukrainians who were forced to flee their homes due to the war,” emphasized Olga Zykova.

She added that with the allocated funds, internally displaced persons will be able to access affordable long-term loans that will enable them to purchase housing in safer regions of Ukraine.

It is expected that already in 2025, more than 1,100 families will be able to benefit from this mechanism.

As a reminder, in 2024 Ukraine received EUR 100 million from the CEB through the HOME project, which provided housing compensation in the form of certificates for homes destroyed as a result of hostilities.