Ukraine will be able to join the Council of Europe Development Bank under a fast-track procedure

Ukraine will be able to join the Council of Europe Development Bank under special conditions for the earliest possible acquisition of the membership.

Source: Minister for Communities and Territories Development of Ukraine Oleksiy Chernyshov

“Ukraine’s accession to the CEB is important for Ukrainians to promote the modernization of state housing policy in our country, develop new residential and social infrastructure programs, take part in international investment projects, and attract foreign investment to ensure adequate housing for the Ukrainians suffering of the war.”


“To become a full member of the Bank, Ukraine will have to fulfil formal conditions and financial requirements and deposit the instrument of accession with the Secretary-General of the Council of Europe. Given the exceptional circumstances that Ukraine is facing, the CEB’s member states have expressed their intention to give a tangible sign of support by relieving the country from any payment requirement for accession.”

The Bank’s Board of Directors approved five new loans for €465 million, most of which will be aimed at supporting refugees from Ukraine in the CEB member countries. Among other things, it is about placing Ukrainian refugees in host communities, providing emergency aid, humanitarian measures, etc.

See also: The EU is working to strengthen control over the implementation of sanctions against Russia

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