The German federal government provides Ukraine with a grant totaling 25.5 million euros to create housing for internally displaced persons. The embassy of Germany in Ukraine reports on Wednesday, June 3.

The corresponding agreement was signed today by German Ambassador to Ukraine Anka Feldguzen and Vice Prime Minister of Ukraine Aleksey Reznikov, the German Embassy in Ukraine reports.

The aim of the project, which is being implemented by the Credit Institution for Reconstruction (KfW bank), is to refinance a subsidized state program for granting loans for the purchase of own housing. Depending on the actual volume of loans, about 1,200 loans can be refinanced using this grant.

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“About 5 thousand internally displaced people will get benefit from this project, which improves their living conditions and their social integration in the territorial communities that accept them. While the usual market interest rate on existing loans can reach up to 25% per annum. Households, who have the right to this, can receive loans under the state credit program at about 3% per annum, “the statement said.

As the German embassy emphasized, although a significant part of the internally displaced people in Ukraine are already working, receiving payment for this, most of them still do not have housing that meets their needs.

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Kiranpreet Kaur
Staff writer at The Eastern Herald. Studied political science.