The Ukrainian government 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 Deputy Prime Minister for the Recovery of Ukraine — Minister of Community and Territorial Development of Ukraine Oleksiy Kuleba and CEB President Carlo Monticelli during the Ukraine Recovery Conference (URC-2025) in Rome.
Funding in the amount of €100 million will be directed toward compensation in the form of housing certificates under the “eRecovery” program. Certificates are issued to eligible citizens for the purchase of new housing to replace that destroyed as a result of Russian aggression. The certificate can be used to purchase an apartment, a private house, or to finance the future construction of one’s own home.
Earlier, in the second half of 2024, the Bank had already provided a €100 million loan, which helped support about 3,000 families or 7,000 people.
CEB financing is also supplemented by a €10 million European Union grant provided through the Ukraine Investment Platform.
“More than 300,000 residential properties have been destroyed or damaged as a result of Russian aggression. We are working to gradually provide housing for those who need it. Today, thanks to the agreement signed, within the framework of the e-Reconstruction program, we will enable about 3,000 more families to buy housing to replace what was destroyed as a result of shelling by Russia. I thank our partners from the CEB for their consistent support of Ukraine,” said Oleksiy Kuleba.
Carlo Monticelli welcomed the progress made in implementing the project and confirmed 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 due to the war, within the framework of 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 over the entire period exceeded 53,000, and more than 10,000 new beneficiaries are already awaiting assistance, the Government of Ukraine has confirmed the need for further financial support. As a result, the CEB has allocated an additional €100 million, which will 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 meet the country’s most pressing needs, starting with the basic right of every individual to a home of their own.
About the Council of Europe Development Bank (CEB)
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from 43 member countries. 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. Its 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 international capital markets. In addition, the Bank receives funds from donors to expand its activities.
The Ukraine Recovery Conference (URC 2025), taking place on 10–11 July 2025 in Rome, is the next important step in a series of international events in support of Ukraine’s recovery, which began 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.
The conference will be attended by over 4,000 representatives of governments, business and civil society: heads of state and government of over 100 countries and international organisations, senior European Union officials, the US Special Representative for Ukraine, high-ranking representatives of the governments of Austria, Great Britain, Denmark, Libya, Malta, the Holy See and other countries, ministers of foreign affairs, economy, finance and energy from various countries around the world – from Europe to Latin America, representatives of international organisations, financial institutions, business associations and civil society.
URC2025 should become not only 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.