Ukraine will receive EUR 100 million from the Council of Europe Development Bank within the project “HOME. Compensation for destroyed property”

On 25-26 March, Deputy Minister of Finance of Ukraine Olga Zykova in Paris, France, participated in the meeting of the Administrative Council of the Council of Europe’s Development Bank (CEB) as the official representative of Ukraine. During the meeting of the Council, a new project “HOME. Compensation for destroyed property” was presented, which provides for a loan of EUR 100 million to Ukraine.

This was reported by the Ministry of Finance of Ukraine.

Following the discussion, the project was supported and approved by the CEB Administrative Council. The funds raised will be used to support the direct assistance mechanism, through which the final beneficiaries, including combatants, disabled people and large families, will receive compensation for housing destroyed as a result of hostilities and terrorist attacks by the russian federation in the form of certificates for the purchase of housing. The project will be implemented all over Ukraine.

The project provides compensation for more than 2,000 housing certificates, which will allow about 5,700 Ukrainians receive compensation for destroyed housing.

The HOME project will be implemented within the framework of the current legislation, in particular, the Law “On compensation for damage and destruction of certain categories of immovable property as a result of hostilities, acts of terrorism, sabotage caused by the armed aggression of the russian federation against Ukraine” and through the eVidnovlennya service.

This will allow citizens to apply for and receive certificates of compensation for damaged property. After automated verification, the application for a certificate will be processed and approved by a special State Compensation Commission. The entire course of the application will be available in the Diia app.

For its part, the Ministry of Communities, Territories and Infrastructure Development of Ukraine ensures comprehensive and full monitoring of the use of the Bank’s loan funds under this project, in particular through the State Register of Property Damaged and Destroyed as a Result of Hostilities, which allows tracking detailed data on applications submitted and the number of applications by region. First of all, the number of applications, the percentage of processing and the dynamics of submissions, the total amount of certificates generated, the number of applications that received a positive decision, as well as the type of property for which the application was submitted, and the availability of benefits for applicants.

The Registry also updates information on a daily basis on the total amount of certificates issued and used, the dynamics of their use, the type of property purchased, the real estate market, the seller (legal entity or individual), and information by region on the use of certificates and the corresponding amounts.

For your information

In June 2023, Ukraine completed the accession process and became the 43rd member state of the Council of Europe Development Bank. On 7 November 2023, Deputy Minister of Finance Olga Zykova was appointed as the representative of Ukraine to the Administrative Council of the Council of Europe Development Bank (CEB) by the Decree of the President of Ukraine.