The Ministry of Finance of Ukraine has announced the receipt of €70 million from the Development Bank of the Council of Europe (CEB) as part of the HOME project. This funding represents the first tranche of two planned disbursements scheduled for completion by the end of this year.
Purpose of the HOME Project
The HOME project is designed to finance housing certificates as a direct assistance mechanism. These certificates enable citizens to receive compensation for homes destroyed as a result of hostilities and terrorist attacks stemming from Russia's aggression. The primary beneficiaries of this initiative are:
- Combatants
- People with disabilities
- Large families
Implementation Details
Compensation for Housing Certificates: The joint project with the CEB plans to finance compensation for more than 2,000 housing certificates.
Beneficiaries: This effort will allow approximately 5,700 Ukrainians to receive compensation for their destroyed homes.
Scope: The project is implemented as part of the "Recovery" service and will be active throughout Ukraine.
Statements from the Ministry of Finance
The Ministry emphasized that the funds received are crucial for supporting those most affected by the ongoing conflict. By providing financial assistance for housing, the government aims to facilitate the resettlement and stabilization of vulnerable populations.
Future Plans
Second Tranche: A second tranche is planned to be received by the end of the year, further bolstering the country's recovery efforts.
Continued Collaboration: The Ministry of Finance continues to work closely with international partners to secure additional funding and support for reconstruction projects.
Background
Impact of Conflict: The ongoing hostilities have led to significant destruction of residential properties, leaving many without homes.
International Support: The collaboration with the CEB reflects the international community's commitment to supporting Ukraine's sovereignty and humanitarian needs.
