Ukraine and the CEB ink EUR 100 million agreement to provide compensation for destroyed housing under the eVidnovlennia program
The Government of Ukraine and the Council of Europe Development Bank (CEB) have taken an important step to support those affected by russia's brutal aggression. Our partners have expanded funding to provide housing for Ukrainians who have lost their homes due to the war.
The agreement was signed by Oleksii Kuleba, Deputy Prime Minister for the Restoration of Ukraine and Minister for Communities and Territories Development of Ukraine, and Carlo Monticelli, Governor of the Council of Europe Development Bank (CEB), during the Ukraine Recovery Conference (URC2025) in Rome.
The EUR 100 million financing will be used to provide compensation in the form of housing certificates under the eVidnovlennia program. The certificates are issued to eligible citizens to purchase new housing to replace that destroyed as a result of russian aggression. The certificates can be used to purchase an apartment, a private house or to finance the future construction of accommodation.
Earlier, in the second half of 2024, the Bank has already provided a loan of EUR 100 million, which allowed it to support about 3,000 families or 7,000 people.
The EBRD funding is also complemented by a EUR 10 million grant from the European Union, which is provided through the Ukrainian Investment Platform.
"More than 300,000 housing structures have been either destroyed or damaged as a result of russian aggression. We are working to provide housing to those in need in a phased manner. Today, thanks to the signed agreement, the program is being implemented under the Restoration,
We are working to provide housing to those who need it in stages. Today, thanks to the signed agreement, within the framework of the eVidnovlennia program, we will provide an opportunity for about 3,000 more families to buy a home to replace the one that was destroyed by russian shelling. I thank our partners from the CEB for their consistent support of Ukraine," said Oleksii Kuleba.
Carlo Monticelli welcomed the progress in the project implementation and reaffirmed the Council of Europe Development Bank's continued support for Ukraine's recovery.
"The CEB is proud to support the Government of Ukraine in its efforts to restore dignity and stability to families who have lost their homes to war through the HOME project. By financing access to housing, we are helping families rebuild their lives and laying the foundations for Ukraine's long-term recovery and social cohesion," said Carlo Monticelli.
Given that the number of applications received for the entire period exceeded 53,000, and more than 10,000 new beneficiaries are already waiting for assistance, the Government of Ukraine confirmed the need for further financial support. As a result, the CEB has allocated an additional EUR 100 million, which will allow it to provide assistance to approximately 3,000 more families in 2025.
As Ukraine continues to resist russia's brutal aggression, the Council of Europe Development Bank remains committed to supporting sustainable solutions to the country's most urgent needs, starting with the most basic right of all - the right to a personal dwelling.
Background information
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member states. The CEB finances investments and provides technical assistance in social sectors such as education, health and affordable housing, with a particular focus on the needs of vulnerable populations, as well as the social aspects of climate change and environmental protection. Borrowers include governments, local and regional authorities, public and private banks, non-profit organizations and other institutions. The CEB, which has the highest credit rating (AAA), raises funds on the international capital markets. In addition, the Bank receives funds from donors to expand its activities.
The Ukraine Recovery Conference (URC 2025), which takes place on July 10-11, 2025 in Rome, is the next important step in a series of international events in support of Ukraine's recovery, launched in Lugano (2022) and continued in London (2023) and Berlin (2024). These conferences have become a symbol of sustained international solidarity and practical assistance to Ukraine in the face of full-scale aggression by the russian federation.
More than 4,000 representatives of governments, business, and civil society take part in the conference: Heads of State and Government of more than 100 countries and international organizations, senior officials of the European Union, the U.S. Special Representative for Ukraine's Economic Recovery, High Representatives of the Governments of Austria, Denmark, Great Britain, Libya, Malta, the Holy See and other countries, ministers of foreign affairs, economics, finance, and energy from around the world, from Europe to Latin America, representatives of international organizations, financial institutions, business associations, and civil society.
The URC2025 should not only be a conference on reconstruction and recovery, but also a symbol of the irreversibility of Ukraine's European path and the shared responsibility of all democratic partners for the security and prosperity of the European continent.
The joint statement is available at the link.