Ukraine will join the Development Bank of the Council of Europe.

The Ukrainian parliament adopted a law to allow Ukraine to become a member of the CEB, which will contribute to developing new housing and social infrastructure programs and provide opportunities to attract investments to offer accommodation for Ukrainian citizens who lost their homes because of the war.

In addition, Ukraine’s acquisition of CEB membership will allow the bank to attract funds for the restoration and reconstruction of the infrastructure destroyed during the war and should also have a positive impact on economic and social development indicators.

The CEB’s main goal is to help solve social problems that European countries face or may face as a result of the presence of refugees, displaced persons, or migrants as a result of population movements and as a result of the presence of victims of natural or environmental disasters.