Ukraine can join the Council of Europe Development Bank under a shortened procedure

Ukraine can join the Council of Europe Development Bank under a shortened procedure

Acquiring membership in the CEB will open up additional opportunities for Ukraine to provide housing for Ukrainians

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Ukraine can join the Council of Europe Development Bank under a shortened procedure

What happened? The Council of Europe Development Bank (CEB) adopted a decision on special conditions for Ukraine's accession to the financial institution and allocated funds to support Ukrainian refugees in Germany and Lithuania.

Source. This was reported by the head of the Ministry of Regions, Oleksiy Chernyshov.

What does it mean? The acquisition of membership in the CEB will open up additional opportunities for Ukraine to provide housing for Ukrainians affected by the war, provide social services and rebuild the destroyed social infrastructure.

Details. It is noted that the Bank's administrative board approved five new loans worth 465 million euros, most of which will be aimed at supporting refugees from Ukraine in the CEB member countries. Among other things, the decision covers the accommodation of Ukrainian refugees in host communities, provision of emergency aid, humanitarian measures, etc.

“In Germany, the State Development Bank of North Rhine-Westphalia received 200 million euros for partial financing of the housing program for refugees, which will help municipalities in the acquisition, construction, and modernization of housing for Ukrainian refugees,” the Ministry said in a statement.

The Bank will provide 120 million euros to the Government of Lithuania to support about 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 be financed from this sum as well.

In addition, the municipality of Kaunas received 25 million euros, which will help the city support 10,000 registered Ukrainian refugees. The city authorities provide them with housing, food, psychological and social assistance, education for children, and job search for adults.

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