The Council of Europe Development Bank will provide a loan to Ukraine
The Administrative Board of the Council of Europe's Development Bank has approved the NOME: Compensation for Destroyed Property project, which provides for a €100 million loan to Ukraine.
This was reported by the press service of the Ukrainian Ministry of Finance.
The funds are planned to be used to support a direct assistance mechanism, through which combatants, persons with disabilities, and large families will receive compensation for housing destroyed as a result of hostilities and terrorist attacks by Russia in the form of certificates for the purchase of housing.
Deputy Minister of Finance of Ukraine Olha Zykova thanked the bank's management for their active support and solidarity with Ukraine and noted the importance of projects to support the social sector.
"The housing sector remains one of the most affected by the war, with total losses estimated at almost USD 50 billion," she said.
The project will allow about 5,700 Ukrainians to receive compensation for destroyed housing. It is being implemented through the eRestoration service throughout Ukraine.
After automated verification, Ukrainians' applications for a certificate will be processed and approved by a special State Compensation Commission. The entire process of application consideration will be available in the Diia mobile application.
Author - Olena Madiak, 27/03/2024
