Ukraine will become a member of the Development Bank of the Council of Europe – what will it bring

According to the Minister of Communities and Territories Development Oleksiy Chernyshev, the BRCE adopted a decision on special conditions for the accession of Ukraine. According to him, this will open up additional opportunities for providing housing for Ukrainians affected by the war, as well as for restoring the destroyed social infrastructure.

The bank has approved five new loans worth 465 million euros, most of which will be used to support refugees from Ukraine in the BRCE member countries.

In Germany, for example, the North Rhine-Westphalia State Development Bank received 200 million euros to partially finance a housing program for refugees. This will help municipalities in the purchase, construction and modernization of housing for Ukrainians.

The Lithuanian government will receive 120 million euros to support about 30,000 Ukrainian refugees, including 13,500 children. The loan will be used to pay benefits, as well as pay for education and medical services. From this amount, a scholarship for 700 Ukrainian students will be financed. The municipality of Kaunas received 25 million euros to support 10,000 Ukrainians.

Why join the BRSE

Ukraine’s accession to this bank will contribute to the development of new housing and social infrastructure programs, participation in investment projects and attraction of investments to provide housing for Ukrainians affected by the war.

The bank was founded in 1956 by eight countries to address the refugee problems that Europe faced after World War II. He is currently implementing 13 projects in Albania, Bosnia and Herzegovina, Moldova, Montenegro, Romania, Serbia and North Macedonia.

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