Ukraine signs memorandum with World Bank to improve housing market

Prime Minister of Ukraine Denys Shmyhal, Vice President of the World Bank Antonella Bassani, and Vice President of the International Finance Corporation Alfonso Garcia Mora have signed a memorandum of understanding to improve the housing market in Ukraine.

The Ukrainian Prime Minister announced this on Telegram, Ukrinform reports.

"The World Bank will provide support to public and private sectors in improving the housing market in Ukraine. The relevant memorandum was signed today," Shmyhal said.

According to him, the WB will provide support in simplifying regulations for the start of new construction and in improving the protection of citizens who buy real estate.

"Our task is not only to restore damaged or destroyed housing. It is also to modernize the overall housing policy in line with EU standards," the Prime Minister emphasized.

In addition, according to him, Ukraine will cooperate with the World Bank to create incentives for private banks to provide affordable loans to Ukrainian families so that more families can buy housing.

As reported, the European Bank for Reconstruction and Development will allocate EUR 300 million for Ukraine to ensure stable and uninterrupted electricity supplies across the country.