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Germany grants additional €17 million for affordable housing loans for IDPs

With Germany’s latest funding, Ukraine plans to issue 400 new subsidized housing loans in 2024 for internally displaced citizens.
Credit: Ukraine’s Ministry for Reintegration of Temporarily Occupied Territories
Germany grants additional €17 million for affordable housing loans for IDPs

The German government has allocated an additional €17 million in grants through the state-owned KfW bank for affordable housing loans for internally displaced persons (IDPs) in Ukraine, Ukraine’s Ministry for Reintegration of Temporarily Occupied Territories announced on 7 December.

The Ukrainian government, Ukraine’s State Fund for Youth Housing Assistance, and KfW Bank signed the agreement.

“Housing for internally displaced persons is a very pressing social issue,” said Ukraine’s Vice Prime Minister Iryna Vereshchuk, thanking the German government and KfW bank for “supporting Ukrainians in these difficult times.”

“With the designated funds, it’s planned to issue around 400 new affordable mortgages in 2024,” the ministry’s press service said.

“We are glad to continue our cooperation with Ukraine in the field of affordable housing loans for Ukrainian internally displaced persons,” said Deputy Ambassador of Germany to Ukraine Tim Prange. “The first part of this project for a total amount of €25.5 million was successfully implemented in 2021-2022.”

KfW Ukraine Director Lorenz Gessner said supporting Ukrainians during the war is an “absolute priority,” stating that the bank will keep standing with Ukraine.

The €17 million grant is part of over €600 million in total German-Ukrainian cooperation in 2023 for development, Prange added.

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