Ukraine received €170 million from the Council of Europe Development Bank for a housing project and support for IDPs

Ukraine has received EUR 170 million from the Council of Europe Development Bank (CEB) to implement two citizen support projects. 

In particular, EUR 70 million will be allocated under the project “HOME: Compensation for Destroyed Housing” to the special fund of the State Budget, and EUR 100 million will be directed to meet the needs of internally displaced persons (IDPs) through the general fund of the State Budget.

The HOME project provides that affected citizens (including combatants, persons with disabilities caused by the war, families of fallen veterans, and large families) receive compensation for housing lost due to hostilities and terrorist acts of the russian federation in the form of certificates for its purchase. The total funding volume amounts to EUR 200 million.

In 2024, Ukraine already received EUR 100 million from the CEB through the HOME project. As of today, 2,760 housing certificates have been issued within the program, which allowed 7,604 Ukrainians to secure new housing. Additional funding of EUR 70 million will make it possible to finance around 1,500 certificates and provide new housing for about 4,000 citizens.

The “Support for Internally Displaced Persons (IDPs) in Ukraine” project provides for the allocation of EUR 200 million to meet the needs of IDPs. Its implementation will ensure the continuity of social payments for living expenses, including covering housing, food, medical services, and children’s education for those forced to leave their homes due to hostilities.

The project will promote the integration of IDPs into new communities, guarantee access to basic services and resources, support local economies, and reduce social tensions. Thanks to payments through the State Budget, additional financial inflows will reach the communities where IDPs reside.

“The housing sector remains one of the hardest hit as a result of the full-scale war and russian occupation. Since February 2022, the Government of Ukraine has received nearly 150,000 applications regarding damaged housing. Therefore, the effective implementation of projects in the housing sector makes it possible to provide necessary support to citizens whose homes were destroyed or damaged due to hostilities, as well as to internally displaced persons who were forced to leave their homes. Thanks to joint projects with the Bank, thousands of Ukrainians will be able to receive the support they need and stay in Ukraine,” - emphasized Deputy Minister of Finance Olga Zykova.

According to the Rapid Damage and Needs Assessment (RDNA4), nearly USD 84 billion will be required just for the reconstruction of the housing sector over the next decade.

In June 2023, Ukraine became the 43rd member state of the Council of Europe Development Bank, and on November 7 of the same year, President of Ukraine appointed Olga Zykova as the country’s official representative to the Bank’s Administrative Council.