The Council of Europe Development Bank will provide Ukraine with 50 million euros for the construction of housing for displaced persons

The Ministry of Development of Communities and Territories of Ukraine reported this on Facebook, as reported by Ukrinform.

“The Ministry of Communities and Territories Development will sign a framework agreement with the Council of the European Development Bank (CEB) for 50 million euros to support a subsidized mortgage program for internally displaced families. These funds will enable approximately 1,100 displaced families to acquire affordable housing as early as 2025,” the statement said.

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This is the second stage of cooperation between Ukraine and CEB within the framework of the project “Housing for Internally Displaced Persons”. The agreement also creates opportunities for further expansion of the program.

According to the ministry, internally displaced person borrowers will be able to count on housing loans with a fixed annual interest rate of 3% for up to 30 years with a minimum down payment of 6% of the cost of the selected housing.

The program is implemented by the Ministry of Communities and Territories Development in partnership with the State Program for Housing for Youth (Gosmodzhilo). The agreement is being prepared by the Ukrainian delegation appointed by President Volodymyr Zelensky.

Under the government's eRecovery programme, the first 100 families have received compensation for their destroyed homes, which will be rebuilt on their own plots of land.

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