The Government of Ukraine and the Council of Europe’s Development Bank (CEB) have signed a €50 million agreement to provide housing for internally displaced persons (IDPs). The agreement was signed by Oleksiy Kuleba, Vice Prime Minister for Reconstruction of Ukraine and Minister of Communities and Territories Development, and Carlo Monticelli, President of the CEB.
The new project will provide more than 1,100 concessional mortgages for IDP families. The mortgage terms include a fixed interest rate of 3%, a maturity of up to 30 years, and the ability to apply through the Diia portal. The programme has already demonstrated high demand, with more than 35,000 families on the waiting list.
“This is an important stage in our cooperation with the Council of Europe Development Bank. Thanks to the funds raised, we will be able to provide housing for even more families who have lost their homes. Ukraine is counting on the efficient use of every euro – transparently, responsibly and with a concrete result for people,” said Oleksiy Kuleba.
“This agreement marks another important milestone in the successful cooperation between CEB and the Ukrainian authorities. Together, we are committed to ensuring access to housing for those displaced by the war, helping people to access safe, stable accommodation as part of Ukraine’s broader recovery efforts,” said Carlo Monticelli, REC President.
In the future, cooperation between the CEB and Ukraine will include the launch of a separate concessional lending programme for war-affected citizens and veterans. All initiatives are based on a strong model of partnership between international financial institutions, the government and communities – for a common goal: a decent life for every citizen of Ukraine.
This is the second agreement with the CEB to support the housing sector in Ukraine. The first one, worth €100 million, was signed in 2024 and provided compensation for destroyed housing through the issuance of housing certificates (the HOME project). Under this mechanism, more than 7,600 Ukrainians have already received housing. The Council of Europe Development Bank will continue to support this compensation mechanism with an additional €100 million in funding already approved.
Since Ukraine joined the CEB in June 2023, the Bank has already approved more than €500 million in loans to support the country’s recovery and social development. These funds are targeted at key sectors such as healthcare, microfinance, housing programmes and support for IDPs. All of these initiatives reflect the CEB’s commitment to Ukraine’s recovery and the well-being of its citizens.
About the CEB
The Council of Europe’s Development Bank is a multilateral investment bank with a unique mission to promote social cohesion in Europe’s 43 member countries. The Bank finances investments in social sectors, including education, health and affordable housing, with a particular focus on the needs of vulnerable groups. Borrowers can be governments, local authorities, public and private banks, non-profit organisations, etc.
As a bank with a high credit rating, CEB raises funds on the international capital markets, adheres to high standards of social, environmental and governance compliance, and provides technical assistance. The Bank receives additional support from donors.
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