Council of Europe Development Bank to provide Ukraine with €100 million loan
The Administrative Council of the Council of Europe Development Bank (CEB) has approved the project "NOME: Compensation for Destroyed Property," which envisages granting Ukraine a loan of €100 million.
Background: European Pravda, citing Ukraine's Ministry of Finance
The funds are planned to be directed towards supporting the mechanism of direct assistance, through which participants in hostilities, persons with disabilities, and large families will receive compensation for housing destroyed due to Russian hostilities and terrorist attacks in the form of certificates for purchasing housing.
Deputy Minister of Finance of Ukraine Olha Zykova thanked the bank's leadership for their active support and solidarity with Ukraine, noting the importance of projects supporting the social sphere.
"The housing sector remains one of the most affected by the war – the total losses are estimated at nearly US$50 billion," she said.
The project will allow approximately 5,700 Ukrainians to receive compensation for destroyed housing. It will be implemented through the eRecovery programme across Ukraine.
After automated verification of certificate applications is complete, a special State Compensation Commission will process and approve them. The entire application process can be tracked via the Diia app.
Background:
- The Ministry of Justice announced that an international registry of damage caused by Russian aggression against Ukraine will be opened in April.
- Earlier, in an interview with European Pravda, Markiian Kliuchkovskyi, Executive Director of the Register of Damage Caused by the Aggression of the Russian Federation against Ukraine, explained how they will seek funds from Russia to pay compensation to Ukrainians.
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