The Administrative Council of the Council of Europe Development Bank (CEB) has approved a project to support internally displaced persons (IDPs) in Ukraine, which includes the allocation of EUR 200 million in credit funds, as reported on the website of the Ministry of Finance of Ukraine.
According to the announcement, these funds will be used to finance budget expenditures for payments to internally displaced persons to ensure their social adaptation and integration into new communities. The payments include providing temporary housing, physical rehabilitation, free meals for IDP children in preschool, school, and vocational education institutions, as well as assistance with employment in new regions.
“Together with the CEB, we have successfully initiated two socially important projects aimed at restoring citizens' rights to housing and healthcare, and we have received the first payments under these projects. Supporting vulnerable populations is one of the government's key priorities in wartime. The implementation of the new initiative to support internally displaced persons in Ukraine will help provide necessary assistance to over 2 million Ukrainians,” said Deputy Minister of Finance Olha Zykova in the statement.
In addition to this project, on Friday, the bank's administrative council also approved a project providing EUR 60 million to the University of Tartu in Estonia, which will enable the modernization of facilities for nearly 15,000 students and 4,300 staff members. The funding will be directed towards constructing a new educational and research building and renovating two existing facilities, including improvements in functionality and energy efficiency.
According to information on the bank's website, during the meeting, an additional loan of EUR 150 million was approved for France’s Métropole Aix-Marseille-Provence (AMP) to support the Nouveau Métro de Marseille (New Metro of Marseille, NEOMMA) program for modernizing the Marseille metro system, as well as a loan of EUR 75 million for Italy’s Istituto per il Credito Sportivo e Culturale (ICSC) to finance local investments in sports and community facilities, which will contribute to sustainable and inclusive growth.
The CEB's administrative council also decided to provide a loan of EUR 40 million to Rīgas Siltums AS, the main supplier of centralized heating in Riga, to enhance the reliability and resilience of heating in the city.
An additional EUR 140 million was allocated to Romania for the renovation and construction of 14 cultural and historical sites, taking into account measures to reduce seismic risks, and another EUR 20 million was allocated to the Slovenian Real Estate Pension Fund, which will help finance 220 economically viable housing units with support for approximately 300 elderly residents, thus ensuring decent and stable living conditions for Slovenia's aging population.
The Ministry of Finance noted that the provision of credit for Ukraine marks the third operation by the CEB in Ukraine since the country's official accession to the Bank in June 2023. Thus, the total approved funding for Ukraine amounts to EUR 400 million.
A project named "Strengthening the Healthcare System and Saving Lives" (Heal Ukraine) is being implemented in the healthcare sector. Ukraine has already received the first tranches from the Bank amounting to approximately EUR 16 million. The funds raised are being directed towards covering payments under the medical guarantee program and restoring citizens' access to primary healthcare, which will improve the quality and accessibility of medical services.
In the housing and reconstruction sector, the project "HOME. Compensation for Destroyed Property" is being implemented with a total volume of EUR 100 million, of which EUR 70 million has already been received. As of early November 2024, the project has financed 1,741 housing certificates totaling 2.9 billion UAH, allowing citizens to acquire more than 1,400 properties. By the end of November this year, Ukraine is expected to receive a second tranche of EUR 30 million.