The European Bank for Reconstruction and Development has opened a credit line of up to €100 million for project companies that will develop, own, and operate affordable housing in Ukraine.
Funding and scale
The funds are directed to the "Steps to Prosperity" platform, which is intended to provide housing for internally displaced persons, veterans, and the elderly.
The first tranche of €7.1 million finances the start-up phase: two rental housing projects in the Kyiv region built to the EDGE standard, where 182 apartments will be constructed.
It is planned to subsequently expand the project to approximately 1,800 energy-efficient units across several locations by 2029.
About the programme and management
The initiative is led by American developer and philanthropist Dell Loy Hansen; his non-profit organisation Mission Hansen in Ukraine works to address the housing needs of displaced families.
Borrowers receiving the funds will be wholly owned by Dell Loy Hansen and will receive operational support from the Hansen Mission in Ukraine.
"This project marks an important milestone in implementing our Strategy for the real estate sector in Ukraine. By supporting scaled, privately led affordable housing, we are demonstrating how this sector can make a substantial contribution to Ukraine’s reconstruction and long-term resilience"
– Vlaho Koyakovich, EBRD Director for Real Estate
- On December 2 the fifth phase of the Hansen town in Tarasivka, Kyiv region, was opened.
