Ukraine’s BRCE membership is less than a year after the country formally applied for membership.
Ukraine completed the accession process and became the 43rd member country of the Development Bank of the Council of Europe (BRCE). This was announced by the Ministry of Finance on Tuesday, June 20.
“Joining the Council of Europe Development Bank is another step towards Ukraine’s further full integration with the EU,” said Finance Minister Serhiy Marchenko, noting that membership will play an important role in the recovery process of Ukraine.
It was noted that the bank’s cooperation with Ukraine is one of the goals of the BRCE Strategic Plan for 2023-2027. The main areas of cooperation will focus on meeting Ukraine’s priority needs in the field of health care and state housing policy, including providing housing for Ukrainian citizens.
“Ukraine’s entry into the Council of Europe Development Bank is evidence of Ukraine’s confidence in the bank and its ability to support the country in recovery, reconstruction and long-term social development,” said Carlo Monticello, head of the Council of Europe Development Bank.
Ukraine’s BRCE membership comes less than a year after the country formally applied for membership in June 2022.
Recall that in January-May 2023, state budget expenditures exceeded one trillion hryvnias. More than half of the amount is directed to financial maintenance of military personnel and to meet the needs of the Armed Forces of Ukraine.
Source: korrespondent
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