Council of Europe Development Bank to provide Ukraine with €100 million to compensate for destroyed housing

Economichna Pravda — Tuesday, 11 June 2024, 15:37

The Council of Europe Development Bank will provide Ukraine with a loan of €100 million under the project HOME: Compensation for destroyed housing.

Source: Ministry of Finance with reference to the agreement signed by Ukrainian Finance Minister Serhii Marchenko and Carlo Monticelli, the Head of the Council of Europe Development Bank, on the sidelines of Ukraine Recovery Conference (URC2024)

Details: The report says that the HOME project will be implemented throughout the government-controlled territory of Ukraine.

"The funds raised will be used to support the direct assistance mechanism (housing certificates), through which the final beneficiaries, including combatants, disabled people and large families, will receive compensation for housing destroyed as a result of combat actions and terrorist attacks by the Russian Federation in the form of housing purchase certificates," the statement said.

"Russia's full-scale war has caused more than US$50 billion in losses to Ukraine's housing sector. The HOME project will help affected citizens go back to a comfortable life as soon as possible," Marchenko said.

"This is just the beginning. As the leading social bank in Europe, the Council of Europe Development Bank intends to support the long-term social development and social integrity of Ukraine, as well as its recovery and reconstruction," Monticelli said.

The ministry's press service also added that the project is being implemented as part of the eRecovery service.

"Citizens can submit requests and, as a result, receive certificates of compensation for damaged property. The process of verifying applications and selecting requests is carried out by a special State Compensation Commission. It will be possible to track the progress of the case in the Diia mobile application," the ministry said.

Background:

On 11 June, the Ukraine Recovery Conference (URC2024) began in Berlin.
European Commission President Ursula von der Leyen said that the first €1.5 billion of proceeds from frozen Russian assets would be transferred to Ukraine in July.

Support UP or become our patron!