From March 25 to 26, Deputy Minister of Finance of Ukraine Olga Zykova participated in the meeting of the Board of Directors of the Council of Europe Development Bank (CEDB), representing Ukraine. The event took place in Paris, France.
The meeting presented a new project “NOME. Compensation for destroyed property”, which provides for a loan to Ukraine in the amount of 100 million euros. The project received support and approval from the Administrative Council of the BRRE.
These funds will be used to support a direct assistance mechanism that will allow for compensation for housing destroyed as a result of hostilities and terrorist attacks in the form of housing purchase certificates. The project will be implemented throughout Ukraine.
According to Olga Zykova, this project is important for Ukraine, as the housing sector is one of the most affected by the war. In particular, it is planned to issue compensation for more than 2,000 housing certificates, which will help about 5,700 Ukrainians. The implementation of this project will contribute to the rapid restoration of life for those whose homes were destroyed or damaged.
The project will be implemented within the framework of current legislation, in particular, using the “eRecovery” service, which will allow citizens to submit requests and receive relevant certificates for compensation for damaged property. Monitoring of the use of funds will be provided by the Ministry of Community, Territorial and Infrastructure Development of Ukraine.
Ukraine, having become the 43rd member country of the Council of Europe Development Bank in June 2023, continues to actively cooperate with the Bank on the implementation of projects aimed at the recovery and development of the country.
