On 15 November, the Administrative Council of the Council of Europe Development Bank (CEB) approved a new project “Support to Internally Displaced Persons in Ukraine”.

Deputy Minister of Finance Olga Zykova participated in the event as the official representative of Ukraine in the CEB Council.

The project envisages the allocation of EUR 200 million of CEB loans to Ukraine to finance State Budget expenditures for payments to internally displaced persons aimed at ensuring social adaptation and integration of IDPs in new communities.

In particular, the payments include temporary accommodation, physical rehabilitation, free meals for IDP children in pre-school, school as well as vocational training institutions, and assistance in finding employment in new regions.

“Together with the CEB, we have already successfully launched two socially important projects to restore the right to housing and healthcare, and received the first payments under them. Providing for vulnerable groups of the population is one of the key priorities of the Government in wartime. The implementation of a new initiative to support internally displaced persons in Ukraine will help to provide more than 2 million Ukrainians with the necessary assistance,” the Deputy Minister of Finance said.

The project is the third CEB operation in Ukraine since the country officially joined the Bank in June 2023. Thus, the total amount of financing approved for Ukraine reaches EUR 400 million.

In the healthcare sector, the project Health Enhancement and Life-Saving (HEAL) is being implemented. Ukraine has already received the first tranches from the Bank in the amount of about EUR 16 million. The funds raised will be used to cover payments under the medical guarantee programme and restore citizens’ access to primary healthcare, which will improve the quality and access to medical services.

In the housing construction and reconstruction sector, the “HOME: Compensation for Destroyed Housing” project is being implemented with a total amount of EUR 100 million, of which EUR 70 million has already been received. As of the beginning of November 2024, the project has financed 1,741 housing certificates totalling UAH 2.9 billion, which has allowed citizens to purchase more than 1,400 properties. By the end of November this year, Ukraine will receive the second tranche of EUR 30 million.