Ukraine receives green light to join Council of Europe Development Bank

The Council of Europe Development Bank (CEB) gave the green light to Ukraine’s membership and allocated funds to support Ukrainian refugees in Europe.

“The Council of Europe Development Bank has adopted a decision on special conditions for Ukraine to become a member of this financial institution as soon as possible. The CEB has also allocated funds to support Ukrainian refugees in Germany and Lithuania,” said the Ministry of Community and Territorial Development of Ukraine. informed.

According to Oleksiy Chernyshov, Minister of Community and Territorial Development of Ukraine, membership of the CEB will provide our country with additional opportunities to provide housing to war-affected Ukrainians, provide social services and rebuild destroyed social infrastructure, including hospitals, schools, and kindergartens.

It should be noted that the Bank’s Board of Directors approved five new loans worth €465 million, most of which will be aimed at supporting refugees from Ukraine in CEB member countries. The decision covers, among other things, the accommodation of Ukrainian refugees in host communities, the provision of emergency aid, humanitarian measures, etc.

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

The CEB will also provide €120 million to the Lithuanian government to support approximately 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 amount.

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