Ukraine is seeking the support of foreign financial institutions, in particular the Council of Europe Development Bank (CEB), to increase funding for concessional mortgage lending programmes for the population and the restoration of housing infrastructure. This was discussed during a meeting between Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, and the leadership of the CEB.

“I would like to thank the CEB for being one of the first international financial institutions to respond to the war in Ukraine by providing assistance to Ukrainians seeking refuge in neighbouring countries. The Bank is currently implementing a programme to rebuild destroyed and damaged homes in Ukraine and is working on a healthcare programme focusing on mental health and rehabilitation.

In the near future, we plan to merge the eVidnovlennia and eOselia programmes so that anyone who needs it will be able to make an advance payment for destroyed housing under the mortgage programme. We invite the CEB to participate in this project. We are interested in the Bank’s participation in the restoration of housing, health and education facilities, as well as in the development of a network of rehabilitation centres for veterans. CEB’s extensive experience will be indispensable in rebuilding our country’s social infrastructure and bringing it closer to EU standards,” said Yuliia Svyrydenko.

In turn, the CEB leadership expressed interest in financing the restoration of Ukraine’s housing infrastructure. This will have a positive impact on the social and demographic situation in Ukraine. The Bank is very interested in helping vulnerable groups of the population to acquire affordable housing. This will be an important incentive for Ukrainians to return home. The Bank is currently working with the Ministry of Economy to develop specific practical tools to deepen cooperation.

Background:

The Council of Europe Development Bank (CEB) is a multilateral financial institution that prioritizes social development. In the summer of 2023, Ukraine officially joined the CEB as its 43rd member.

The Bank's primary activities revolve around 22 “target countries” – Central, Eastern, and South-Eastern European countries that are CEB members. These countries can act as both donors and recipients of loans. In 2021, 57 projects totalling €4.2 billion were carried out primarily in these countries. The CEB offers loans to its member states on terms that are significantly more favourable than market rates.

The Bank's current activities are divided into the following sectors: refugees and migrants, social housing construction, improvement of living conditions, environmental protection, disaster management and prevention, education, healthcare, cultural heritage, public administration, and support for small and medium-sized businesses.