Ukraine’s European partners are prepared to invest $400M in a municipal rental housing project.

The projects include building rental housing in the first 10 pilot regions, said Minister of Community and Territorial Development Oleksiy Kuleba. “We are negotiating this matter with the European Commission and the EIB. They have supported it and are discussing an initial $400M financing for the first 10 pilot communities,” said Kuleba.

A debate is currently ongoing regarding where these projects will be carried out. On one hand, there is societal demand for municipal housing to be situated closer to the regions where potential tenants originate, which are regions near temporarily occupied territories or areas experiencing active hostilities. Conversely, the European partners are counting on implementing these projects in communities situated closer to the EU.

Kuleba also announced a project to develop housing in Bila Tserkva for internally displaced persons from Mariupol. “This will be a residential development of three residential complexes, which combines two solutions at once: the construction of municipal rental housing and preferential mortgage lending for those Mariupol residents who are ready to buy housing,” Kuleba explained.