Resilient, Equitable and Accessible Credit for Housing Project

pipeline

The Project Development Objective is to expand access to affordable housing finance for underserved households in Ukraine and strengthen the enabling environment for a sustainable housing finance market. Ukraine's mortgage market remains severely underdeveloped at less than 1 percent of GDP, with the government-sponsored eOselia program serving as the main engine of mortgage lending since the start of the war. To this end, the operation is structured around three components: Component 1 (USD 300 million) finances housing finance ecosystem reforms with disbursements linked to Performance-Based Conditions covering mortgage program efficiency, UFHC governance, sustainable finance solutions, and enabling environment reforms aligned with EU acquis; Component 2 (USD 195 million, grant) supports the recalibration of eOselia to an interest rate compensation model to leverage commercial bank liquidity and mobilize private capital; and Component 3 (USD 5 million) finances technical assistance and capacity building for MoEEA and UFHC.