State Fund for Support of Youth Housing Construction, Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine, KfW, Frankfurt am Main, join forces to provide housing for IDPs (internally displaced persons).

State Fund for Support of Youth Housing Construction partakes in the KfW project “Accommodation for internally displaced persons” in the framework of financial cooperation between Germany and Ukraine. At the assembly of the Government of Ukraine on November 16th, the project of tripartite Grant and Project Agreement was approved between the Cabinet of Ministers of Ukraine, the State Fund for Support of Youth Housing Construction and KfW Bank, Frankfurt am Main to provide grants under German financial cooperation with Ukraine. The agreement was approved by the Order Cabinet of Ministers of Ukraine №1437-р from 16.11.2020. 

This is an important stage in the execution of the Agreement on Financial Cooperation signed on June 3, 2020, between the Cabinet of Ministers of Ukraine and the Government of the Federal Republic of Germany. The Agreement is currently in the Verkhovna Rada of Ukraine and will come into force after ratification. 

The Grant and Project Agreement, which will be signed between the Cabinet of Ministers of Ukraine represented by the Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine, the State Fund for Support of Youth Housing Construction and KfW, allows for a grant of 25.5 million euros. for the implementation of a project on lending to internally displaced persons for the purchase of housing. 

Specific conditions for the effectuation of the project will be defined in separate agreements which will be concluded by State Fund for Support of Youth Housing Construction with KfW and the Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine.

Reference. KfW (German: Kreditanstalt für Wiederaufbau - Credit Institution for Reconstruction) is a German state development bank headquartered in Frankfurt am Main. Founded in 1948, KfW is the third-largest bank by assets in Germany. Authorized by the German government, the bank finances development programs and is one of the leading development banks in the world, in particular, actively works with the Ukrainian side. 80% of KfW shares belong to the Federal Government of Germany, 20% - to the federal states of Germany.