Council of Europe and Italy Grant €50 Million to Ukraine to House 2,200 Families

International Partners Fund Ukraine’s Housing Recovery

According to Мінфін: Ukraine has secured €50 million in funding from the Council of Europe Development Bank and the Italian Government through the "HOME: Compensation for Destroyed Housing" initiative. This support is designated for housing certificates under the “eRecovery” program, aimed at assisting those affected by the ongoing Russian invasion. The investment is expected to provide new homes for approximately 2,200 Ukrainian families.

Of the total sum, the Council of Europe Development Bank contributed €25 million, while the Italian Government matched this with an additional €25 million. Previously, Ukraine has mobilized €200 million through earlier phases of this project, which enabled the financing of over 6,000 housing certificates. The Ukrainian Ministry of Finance remains actively engaged with international partners to secure further resources critical for housing reconstruction efforts.

The Impact of Financial Aid

Olga Zykova, a representative from Ukraine’s Ministry of Finance, emphasized: “This €50 million injection directly supports Ukrainian families who lost their homes due to Russian aggression, helping them to acquire new housing. We are grateful to the Council of Europe Development Bank and the Italian Government for their consistent commitment to Ukraine and their willingness to expand funding for vital social programs.”

This financial assistance marks a significant milestone in restoring Ukraine’s housing stock, as many families remain displaced amid the conflict. The “eRecovery” program plays a crucial role by enabling affected individuals to secure new homes, addressing an urgent humanitarian need. Collaboration with international donors highlights Ukraine’s ongoing dedication to rebuilding and safeguarding the well-being of its citizens during these challenging times.