Ukraine Recovery Conference – URC2024, an international conference for reconstruction of Ukraine which gathered leaders of a number of countries, representatives of international organizations, companies, and NGOs to discuss approaches to Ukraine recovery after the Russian aggression, is yielding first results.

According to the Ministry of Infrastructure, in the course of the event, Carlo Monticelli, Governor of the Council of Europe Development Bank, and representatives of the Ukrainian Government signed a loan agreement for EUR 100 million in the framework of project “HOME: Compensation for Destroyed Residential Properties.”

“The start of the cooperation with the Council of Europe Development Bank offers to the Ukrainian citizens the confidence that their call for justice has been heard. As a result of the agreement signed today, more than two thousand families whose homes were destroyed will be able to receive compensation and restore their homes. It’s been a year since the compensation mechanism began working and it’s been a year that Ukraine joined the Bank, thus as early as now we’ve got the first promising project. I am sure it will kick-start our long-term and efficient cooperation,” said Nataliia Kozlovska, Deputy Minister of Communities, Territories, and Infrastructure Development of Ukraine.

Following the signature of the loan agreement, the CEB and the Ministry of Infrastructure signed a joint statement of collaboration and partnership in pursuit of joint projects targeted at urgent housing needs, whose text is available on the Bank’s website.

Attraction of investment from this multilateral bank of development is a result of hard work and an expression of trust. Back in August last year, the aforesaid ministry began developing a joint project with CEB для for rehabilitation of damaged condominiums.

*As a reference: The Council of Europe Development Bank (СЕВ), established in 1956, is a multilateral financial institution with an exclusively social mandate. CEB is the Council of Europe key tool in practical implementation of social solidarity and cohesion policy.

To recap, in June 2023, Ukraine completed the accession process and became the CEB’s 43rd member state. Це відбулося менше ніж через рік після подання заявки на членство CEB. It happened less than a year after applying for the CEB membership.

Carlo Monticelli, Governor of the Council of Europe Development Bank; Nataliia Kozlovska, Deputy Minister of Infrastructure; Vasyl Shkurakov, acting Minister of Communities, Territories, and Infrastructure Development

Delegation of Ukraine and CEB