Ukraine Receives €10 Million in Preferential Financing from the Development Bank of the Council of Europe

by Roman Cheplyk
Friday, September 27, 2024
4 MIN
Ukraine Receives €10 Million in Preferential Financing from the Development Bank of the Council of Europe

The Ukrainian government secures €10 million in preferential financing from the Development Bank of the Council of Europe (CEB) to support critical healthcare initiative

Key Highlights

  • Total Financing Received: €10 million
  • Source: Development Bank of the Council of Europe (CEB)
  • Project: "Strengthening the Health Care System and Saving Life (HEAL Ukraine)"
  • Purpose: Reimbursement of state budget expenses for the medical guarantee program
  • Additional Funding: €70 million from CEB for the "HOME. Compensation for Destroyed Housing" project
  • Overall Project Financing: $500 million (loan and grant funding)
  • Achievements So Far:
    • Over 5 million doses of basic childhood vaccinations
    • More than 5.3 million individuals underwent extended primary medical examinations
    • Nearly 4.9 million people received discounted medicines under the "Affordable Medicines" state program
    • Approximately 400,000 individuals received mental health services
    • Around 430,000 people completed rehabilitation courses
    • Over 3,900 medical workers trained to assist survivors of gender-based violence

Financing Details

The Ministry of Finance of Ukraine announced that the general fund of the state budget has received €10 million in preferential financing from the Development Bank of the Council of Europe (CEB). This funding constitutes the first tranche of the BSRE (likely an abbreviation related to the project or funding mechanism) under the terms of joint financing within the framework of the World Bank project "Strengthening the Health Care System and Saving Life (HEAL Ukraine)".


Allocation of Funds

The allocated €10 million will be directed towards reimbursing state budget expenses associated with payments under the medical guarantee program, as outlined in the Framework Loan Agreement between Ukraine and the CEB. Specifically, these funds will finance priority needs in the healthcare sector, including:

  • Rehabilitation Services: Supporting the physical recovery of individuals affected by the conflict.
  • Psychological Support Services: Providing mental health assistance to those traumatized by ongoing hostilities.

HEAL Ukraine Project Overview

The HEAL Ukraine project is a comprehensive initiative aimed at addressing the evolving and urgent needs within Ukraine's healthcare system. With a total planned financing of $500 million (comprising loans and grants), the project focuses on:

  • Meeting New and Urgent Healthcare Needs: Addressing the immediate medical requirements arising from the conflict.
  • Modernizing the Medical System: Upgrading healthcare infrastructure and technologies to enhance service delivery.
  • Sustainable Development: Ensuring the long-term resilience and efficiency of Ukraine's healthcare services.

To date, the general fund of the state budget has received $136 million from the HEAL Ukraine project, which has been utilized to finance a range of essential medical services.


Achievements of the HEAL Ukraine Project

Since its inception, the HEAL Ukraine project has made significant strides in improving healthcare outcomes across the country:

  • Vaccinations: Administered over 5,000,000 doses of basic childhood vaccinations, ensuring the protection of vulnerable populations.
  • Medical Examinations: Facilitated extended primary medical examinations for more than 5,300,000 people, enhancing early detection and treatment of health issues.
  • Affordable Medicines: Provided discounted medicines to nearly 4,900,000 individuals under the state program, increasing accessibility to essential medications.
  • Mental Health Services: Delivered mental health support to approximately 400,000 people, addressing the psychological impacts of the conflict.
  • Rehabilitation Programs: Completed rehabilitation courses for around 430,000 individuals, aiding their physical recovery.
  • Training Medical Workers: Trained over 3,900 medical professionals in assisting survivors of gender-based violence, strengthening the capacity of healthcare providers.

Additional Funding and Support

In addition to the €10 million for the HEAL Ukraine project, Ukraine received €70 million from the CEB at the beginning of September as part of the "HOME. Compensation for Destroyed Housing" project. This funding is aimed at compensating for the destruction of residential properties due to the ongoing conflict, further supporting Ukraine's reconstruction efforts.


Conclusion

The infusion of €10 million from the Development Bank of the Council of Europe marks a pivotal advancement in Ukraine's efforts to strengthen its healthcare system amidst challenging circumstances. Through the HEAL Ukraine project, Ukraine is addressing critical medical needs, modernizing its healthcare infrastructure, and ensuring the well-being of its citizens. Combined with additional funding for housing compensation, these initiatives underscore the international community's commitment to supporting Ukraine's resilience and recovery.

You will be interested