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This week, the world watched in anticipation for Russia’s Victory Day parade after President Volodymyr Zelensky commented that he could not guarantee the safety of those attending. Meanwhile, the European Union moves one step forward to banning Russian gas from the European continent. It is also revealed this week that U.S. Secretary of Defense Pete Hegseth has fallen out of step with the White House.

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Council of Europe Development Bank to lend almost $110 million to Ukraine for housing

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Council of Europe Development Bank to lend almost $110 million to Ukraine for housing
Illustrative purposes only: An aerial view of reconstruction in Irpin, a suburb of in Kyiv Oblast, on Feb. 7, 2023. (Masha Lavrova/The Kyiv Independent)

Council of Europe Development Bank has allocated a loan of 100 million euros ($108 million) to restore housing for Ukrainians, Infrastructure Minister Oleksandr Kubrakov said on March 27.

"This means that more than 2,000 families will soon receive new homes," Kubrakov said on X.

"These are the people whose homes were totally destroyed as a result of Russian aggression."

More than two years of Russia's full-scale war took a heavy toll on Ukraine's civilian infrastructure. Almost half of people from the east and south of the country reported their houses damaged or destroyed during the hostilities.

The World Bank estimated in February that the full cost of Ukraine's post-war reconstruction would amount to $486 billion over a 10-year period.

Raising funds to cover recovery needs remains a challenge for Kyiv and its partners. Last month, the European Council approved the Ukraine Facility, a four-year financing of 50 billion euros ($54 billion) to aid the besieged country's recovery efforts and help finance the state's functioning amid the full-scale war.

Russia aims to knock out Ukraine’s power grid in new wave of attacks
Russia launched a fresh wave of missile and drone attacks against Ukraine between March 21-25, hitting the country’s critical infrastructure heavier than ever before. Some 190 missiles, 140 Shahed-type drones, and 700 aerial bombs pounded the country over the past week, President Volodymyr Zelensky…
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Martin Fornusek

Senior News Editor

Martin Fornusek is a news editor at the Kyiv Independent. He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He was also volunteering as an editor and translator at the Czech-language version of Ukraïner. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.

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