The Administrative Council of the Development Bank of the Council of Europe (Council of Europe Development Bank) has approved a project to support internally displaced persons (IDPs) in Ukraine, which provides for the allocation of EUR200 million in credit funds, the website of the Ministry of Finance of Ukraine reports.
As specified in the message, these funds will be used to finance budget expenditures for payments to internally displaced persons to ensure social adaptation and integration of IDPs in new communities. Payments include provision of temporary housing, physical rehabilitation, free meals for IDP children in preschool, school and vocational educational institutions, as well as assistance in finding employment in new regions.
“Together with BRUE, we have already successfully started two socially important projects to restore citizens’ right to housing and health care, and received the first payments within their limits. Provision of vulnerable sections of the population is one of the key priorities of the state in the conditions of war. The implementation of a new initiative to support internally displaced persons in Ukraine will help to provide more than 2 million Ukrainians with the necessary assistance,” the message states the words of Deputy Minister of Finance Olga Zykova.
In addition to this project, on Friday the bank’s board of directors also approved a EUR60 million grant project to Tartu University in Estonia, which will enable the modernization of premises for almost 15,000 students. students and 4.3 thousand employees Funding will go towards the construction of a new educational and research building and the reconstruction of two existing facilities, including improvements in functionality and energy efficiency.
According to with information on the bank’s websitethe meeting approved an additional loan for France in the amount of EUR150 million Métropole Aix-Marseille-Provence (AMP) to support the Nouveau Métro de Marseille (New Metro Marseille, NEOMMA) program to modernize the Marseille metro system, a loan for Italy for EUR75 million for the Istituto per il Credito Sportivo e Culturale (ICSC) to finance local investment in sports and community facilities that will promote sustainable and inclusive growth.
Also, the Board of Directors of BRUE decided to grant a loan of EUR40 million to Rīgas Siltums AS, the main supplier of district heating in Riga, in order to increase the reliability and sustainability of heating in the city.
A further EUR140 million has been decided to be provided to Romania to finance the renovation and construction of 14 cultural and historical sites, considering measures to reduce seismic risks and a further EUR20 has been decided to be given to the Slovenian Pension Real Estate Fund, which will help finance 220 cost-effective housing units with support for around 300 elderly residents, thereby supporting dignified and stable living conditions for Slovenia’s aging population.
The Ministry of Finance noted that the granting of a loan to Ukraine is already the third operation of the BREU in Ukraine since the country’s official accession to the Bank in June 2023. Thus, the total amount of financing approved for Ukraine is EUR 400 million.
In the health care sector, the project “Strengthening the health care system and saving life” (Heal Ukraine) is being implemented. Ukraine has already received the first tranches from the Bank in the amount of about EUR 16 million. Raised funds are directed to cover payments under the medical guarantee program and restore citizens’ access to primary health care, which will make it possible to improve the quality and access to medical services.
The HOME project is being implemented in the housing construction and rehabilitation sector. Compensation for destroyed property totaling EUR 100 million, of which EUR 70 million has already been received. As of the beginning of November 2024, 1,741 housing certificates with a total volume of UAH 2.9 billion have been financed within the project, which has enabled citizens to purchase more than 1,400 real estate properties. By the end of November this year, Ukraine will receive the second tranche in the amount of EUR30 million.
