Ukraine and the CEB sign €100 million agreement to provide compensation for destroyed housing

Rome - The Government of Ukraine and the Council of Europe Development Bank (CEB) have taken a significant step to support the victims of Russia's brutal aggression by increasing existing financing to meet the urgent housing needs of Ukrainians whose homes were destroyed by the war.

Signed during the Ukraine Recovery Conference 2025 in Rome by Deputy Prime Minister for Restoration of Ukraine - Minister for Development of Communities and Territories of Ukraine, Oleksiy Kuleba, and CEB Governor Carlo Monticelli, the €100 million loan helps finance the authorities' housing certificate-based compensation mechanism, which enables eligible beneficiaries to purchase new housing, including apartments, private houses, or invest in newly constructed homes.

This new CEB loan is in addition to an initial CEB loan of €100 million under the HOME project, which the Bank disbursed between the second half of 2024 and the first quarter of 2025, resulting in new homes for 7 000 individuals.

The CEB funding is further complemented by a €10 million grant from the European Union, provided through the Ukraine Investment Framework, which will help the Ukrainian authorities enhance the impact of their compensation mechanism. [Read the joint statement here]

"More than 300 thousand housing units have been destroyed or damaged as a result of Russian aggression. We are working to gradually provide homes for those who need them. Today, thanks to the signed agreement under the eRecovery programme, we will enable another 3 000 families to purchase a home to replace the one destroyed by Russian shelling. I am grateful to our partners at the CEB for their consistent support of Ukraine" - said Oleksiy Kuleba.

Governor Monticelli welcomed progress on the project and reaffirmed the CEB's continued commitment to Ukraine's recovery:

"The CEB is proud to support the Government of Ukraine in its mission to restore dignity and stability to families whose homes have been lost to war through the HOME project. By financing access to housing, we help families rebuild their lives and lay the foundations for Ukraine's long-term recovery and social cohesion".

Given that the total number of applications received now exceeds 53 000 and over 10 000 new beneficiaries are already awaiting support, the Government of Ukraine has confirmed the need for further financial assistance. Consequently, the CEB has allocated an additional €100 million, which will support approximately 3 000 more families in 2025.

As Ukraine continues to resist Russia's brutal aggression, the CEB remains committed to supporting sustainable solutions to address the country's most pressing needs, starting with the fundamental right to a home.

Media contacts:

Roman Borshch, MinDev press service, Phone +38068 526 5680, e-mail: [email protected]

Michelle Gyeney, CEB Communication Unit, Phone +33 7 86 52 30 86, e-mail: [email protected]