Accession of Ukraine to the Membership of the BRDT 

by Olha Povaliaieva
Sunday, July 10, 2022
Accession of Ukraine to the Membership of the BRDT 

Development Bank of the Council of Europe will grant Ukraine membership under a particular procedure and allocate €465 million to support refugees

On July 10, the government of the Development Bank of the Council of Europe announced a decision to grant Ukraine membership in the organization under an accelerated procedure. The decision was formed against the backdrop of the acute need of the citizens of Ukraine, who, due to the war, found themselves without housing and social services, and the country in general lives in a destroyed social infrastructure. Membership in the BRDT will help Ukraine quickly access funds and instruments that compensate for the needs of the country and its people.
This is reported by the Ministry of Communities and Territories Development. 

"The Bank's board of directors has approved five new loans worth €465 million, most of which will be directed to support refugees from Ukraine in the BRRE member countries (specifically, Germany and Lithuania — ed.). Among other things, we are talking about the placement of Ukrainian refugees in host communities, emergency assistance, humanitarian activities, etc.," BRDT officials.

The bank was founded in 1956 to solve problems created by WW II. In particular, refugees and destroyed infrastructure. The purpose of the creation of the BRRE is to provide loans for the purchase or reconstruction of housing to people affected by the war.

We remind you that Ukraine has joined the NCTS, the application of which will begin at the end of this year.

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