Ukraine to receive 100-mln-euro loan from Council of Europe Development Bank under HOME project

MOSCOW. June 13 (Interfax) - Ukraine will receive 100 million euros under a loan agreement with the Council of Europe Development Bank (CEB) to provide compensation for housing under the HOME: Compensation for Destroyed Residential Properties project.

Ukrainian media reported referencing a Financial Ministry statement on Tuesday that Finance Minister Sergei Marchenko and CEB Governor Carlo Monticelli signed the loan agreement on the sidelines of the Ukraine Recovery Conference (URC2024).

Under the HOME project to be implemented throughout the government-controlled Ukrainian territory, the funds raised will be used to support the direct assistance mechanism (housing certificates), enabling final beneficiaries to receive compensation for housing in the form of housing purchase certificates.

The project is being implemented as part of the eRecovery service in line with the law guaranteeing compensation for damage or destruction caused to certain categories of real estate, which entitles citizens to submit requests and receive compensation certificates for damaged property. A special compensation commission shall be authorized to verify applications and select requests, and this process can be tracked using the Diia app.

As reported, Ukraine completed the accession process and became the 43rd CEB member state in June 2023.