Council of Europe Development Bank to allot 100 mln euros to Ukrainian Health Ministry

MOSCOW. Nov 20 (Interfax) - The Council of Europe Development Bank (CEB) has approved the first soft loan project for Ukraine: 100 million euros will be allotted to the Ukrainian Health Ministry, Ukrainian media said on Friday, citing the Ukrainian Finance Ministry.

"Our first loan to the Health Ministry aims to restore and improve access to essential health services, including mental health, and is an important step towards sustainable renewal for the people of Ukraine," CEB Governor Carlo Monticelli said.

He noted that the program was part of the $500-million project drafted by the World Bank and the Ukrainian authorities, Health Enhancement and Lifesaving (HEAL), to be co-funded by the CEB.

According to the website of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), the World Bank has approved a $100-million loan and a $20-million grant for the project.

Back on May 30, the Ukrainian parliament passed a bill by 296 votes to accept the CEB Charter and join the Third Protocol to the General Agreement on Privileges and Immunities of the Council of Europe.

The Council of Europe Development Bank is a multilateral development bank whose mission is to promote social cohesion in 43 member states across Europe. The CEB invests in social sectors, including education, health and housing affordability, with a special focus on the needs of vulnerable populations. Borrowers are governments, local and regional authorities, public and private banks, non-profit organizations, etc.