Financial sector news

The loan will finance the construction of 1,800 energy-efficient apartments for IDPs, veterans, and the elderly by 2029

The European Bank for Reconstruction and Development has provided a credit line of up to €100 million not to the state, but to project companies that will develop, own, and manage affordable housing projects in Ukraine, according to the EBRD press service.
The funds will be used to implement the “Stairs to Prosperity” program, an affordable housing platform for internally displaced persons, the elderly, and war veterans.

The program is headed by American developer and philanthropist Dell Loy Hansen. The non-profit Hansen Mission in Ukraine, which he founded, is dedicated to solving housing issues for displaced families.

"This project marks an important milestone in the implementation of our Strategy for the real estate sector in Ukraine. By supporting scaled, private sector-led affordable housing, we are demonstrating how this sector can make a significant contribution to Ukraine's reconstruction and long-term sustainability," said EBRD Real Estate Director Vlaho Kojakovic.

The initial tranche of €7.1 million will finance the development of the first phase and provides for the construction of 182 housing units. Further scaling up to 1,800 homes in several locations in the Kyiv region is planned by 2029.
The EU is supporting this agreement with a guarantee from the Investment Facility for Ukraine (UIF), the investment arm of the International Fund for Ukraine (UF).

Providing affordable housing for vulnerable groups and other Ukrainian citizens is a key priority for the UIF. The project will also receive technical assistance from donors to enhance its social and environmental impact.