Ukraine will receive EUR 50 million from the Council of Europe Development Bank (CEB) to finance a subsidized mortgage program for families of internally displaced persons (IDPs).
The Ministry for Communities and Territories Development of Ukraine announced this on Facebook, according to Ukrinform.
“The Ministry for Communities and Territories Development will sign a framework agreement with the Council of Europe Development Bank (CEB) for EUR 50 million to finance a subsidized mortgage program for IDP families. These funds will enable around 1,100 displaced families to access affordable housing as early as 2025,” the statement reads.
This is the second phase of cooperation between Ukraine and the CEB under the project “Housing for Internally Displaced Persons.” The agreement also paves the way for further expansion of the program.
According to the ministry, IDP borrowers will be eligible for housing loans at a fixed annual interest rate of 3% for up to 30 years, with a minimum down payment of 6% of the selected property’s value.
The program is being implemented by the Ministry for Communities and Territories Development in partnership with the State Youth Housing Program (Derzhmolodzhytlo). The agreement is being prepared by a Ukrainian delegation authorized by President Volodymyr Zelensky.
Under the government’s eRecovery program, the first 100 families have received compensation for destroyed housing to be rebuilt on their own land plots.
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Source: CoE Development Bank to provide Ukraine with EUR 50M for housing for displaced persons
