Council of Europe Development Bank approves two loans for Ukraine totaling EUR 120 mln for housing, small business development

The Council of Europe Development Bank (CEB) has allocated additional loans to Ukraine: EUR 100 million for the HOME program to compensate citizens for housing destroyed by war, and EUR 20 million to support micro-enterprises and small farms in Ukraine.

According to the Ministry of Finance on Wednesday, the decision was made by the CEB Administrative Council on March 16-17, in a joint meeting with the Governing Council attended by Deputy Minister Olha Zykova.

The HOME program is implemented through a state housing certificate mechanism that allows citizens whose housing was destroyed as a result of Russian aggression to receive compensation for purchasing new housing. With the previously provided and fully utilized EUR 200 million, 3,774 housing units were purchased for more than 13,000 Ukrainians who received new housing.

"As of early 2026, more than 98,000 applications for compensation for destroyed housing have been submitted, which indicates the scale of the need to restore the housing stock. The additional financing will allow support for about 3,000 more families, as well as extend the program until June 30, 2028," the Finance Ministry said.

Regarding the EUR 20 million, this program will be implemented through the National Development Institution (formerly the Entrepreneurship Development Fund), which will provide financing through partner banks and credit unions. The program’s total financing also includes a EUR 4.6 million EU investment grant within the Ukraine Investment Framework, EUR 0.23 million in technical assistance, and a EUR 3 million CEB grant to cover currency risks.

The program is focused on supporting entrepreneurs affected by the war, internally displaced persons, veterans, women entrepreneurs, youth, persons with disabilities, and small farms, the Finance Ministry said.

It is expected that of the EUR 20 million, at least 50% of the financing will be directed to vulnerable groups, and 30% of investments will go to energy-efficient and sustainable projects.