Ukraine given green light to join Council of Europe Development Bank

"The Council of Europe Development Bank adopted a decision on special conditions for Ukraine to acquire membership in this financial institution as soon as possible. CEB also allocated funds to support Ukrainian refugees in Germany and Lithuania," the Ministry of Communities and Territories Development of Ukraine informs.

According to Oleksiy Chernyshov, Minister of Communities and Territories Development of Ukraine, membership in CEB will open up additional opportunities for our country to provide housing for Ukrainians affected by the war, provide social services, and rebuild destroyed social infrastructure, including hospitals, schools, and kindergartens.

It is noted that the Bank's administrative board approved five new loans worth 465 million euros, most of which will be aimed at supporting refugees from Ukraine in the CEB member countries. Among other things, the decision covers the accommodation of Ukrainian refugees in host communities, provision of emergency aid, humanitarian measures, etc.

In particular, the State Development Bank of North Rhine-Westphalia (Germany) received 200 million euros for partial financing of the housing program for refugees, which will help municipalities in the acquisition, construction, and modernization of housing for Ukrainian refugees.

The CEB will also provide 120 million euros to the Government of Lithuania to support about 30,000 Ukrainian refugees, including 13,500 children. The loan will be used by relevant ministries and communities that provide priority support to Ukrainians. Scholarships for 700 Ukrainian students will also be financed from this sum.

Moreover, the municipality of Kaunas (Lithuania) received 25 million euros, which will help the city support 10,000 registered Ukrainian refugees by providing them with housing, food, psychological and social assistance, education for children, and job search for adults.