Ukraine joins Council of Europe Development Bank
Photo: Ukrainian Minister of Finance Serhiy Marchenko (Kmu gov ua)
Ukraine has completed the accession process and has become the 43rd member country of the Council of Europe Development Bank (CEB). The application was submitted last year, according to the Ministry of Finance's press service.
"The accession to the Council of Europe Development Bank is another step towards Ukraine's further integration into the EU," commented Ukrainian Minister of Finance Serhiy Marchenko, emphasizing that membership will play an important role in Ukraine's recovery process.
Cooperation between the Bank and Ukraine is one of the objectives outlined in the CEB Strategic Plan for 2023-2027. The critical areas of collaboration will focus on meeting Ukraine's urgent needs in healthcare and implementing state housing policies, including providing housing for Ukrainian citizens.
"Ukraine's accession to the Council of Europe Development Bank demonstrates Ukraine's trust in the Bank and its ability to support the country in its recovery, reconstruction, and long-term social development," noted Carlo Monticelli, the Head of the Council of Europe Development Bank.
Ukraine's membership in the CEB was achieved less than a year after officially submitting its application in June 2022.
The Council of Europe Development Bank, headquartered in Paris, was established in 1956 to finance the resettlement of refugees and displaced persons after World War II.
The assets of €30 billion will provide loans to member governments for financing social investments, such as schools, hospitals, and public housing.
