Ukrainians will receive European social housing programs. Details
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On May 29, the Verkhovna Rada adopted, without exaggeration, a historic decision: by 296 votes, it adopted Presidential Law No. 0206 dated May 26, 2023 on the adoption of the Charter of the Development Bank of the Council of Europe. This was written by the chairman of the board of Derzhmolodzhitlo Sergey Komnatny on Facebook.
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According to Komnatny, the “green light” has been given to the acquisition of Ukraine’s membership in the Council of Europe Development Bank (CEB).
What can Ukrainians expect?
With the support of a powerful European institution, which has many years of experience in financing housing programs for displaced persons in European countries, we will be able to solve the housing problem of families who were bereaved by Russia’s armed aggression against Ukraine more quickly and more effectively.
Ukraine’s entry into the BRRD will contribute to the modernization of the state housing policy in our country, help develop new housing programs, attract foreign investment to provide housing for Ukrainians who suffered as a result of the war.
BRRE is the oldest European development bank, its projects have an exclusively social orientation. Created in 1956 to resolve issues of reintegration of refugees, displaced persons and migrants. The Bank’s members include 40 member states of the Council of Europe, the Holy See and Kosovo.
The special social mandate of the BSEC allows to provide loans to member states on conditions that are much more favorable than market ones. As a non-commercial institution, the bank applies a limited margin to its loans and does not charge commissions, which allows to significantly reduce the cost of loans for financing social projects.
Let’s remind
Since 1956, the total volume of housing projects approved by the bank amounted to 11 billion euros. As of June 2022, BRSE has implemented 13 projects in Albania, Bosnia and Herzegovina, Moldova, Montenegro, Romania, Serbia and Macedonia.
The priority region of the bank’s activity is Central, Eastern and South-Eastern Europe. In 2021, mainly in the countries of this region, 57 projects were implemented for a total of 4.2 billion euros, in 2020 – 56 projects for a total of 6 billion euros).
From the first day of the Russian armed aggression against Ukraine, the BRRE joined practical assistance to the victims of the war unleashed by Russia, in particular to those who were forced to leave Ukraine.
More than once, the bank provided funds to support displaced persons from Ukraine.
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Editor of the news feed Yaroslav Holoborodko Writes on the topics: Macroeconomics, stock market, cryptocurrency
Source: Ministry of Finance
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