Ukraine joins the CEB

Ukraine completed the accession process and became the CEB’s 43rd member state on Thursday, 15 June. 

The accession process was completed less than a week after the CEB’s 56th annual Joint Meeting in Greece, where Deputy Prime Minister for Restoration of Ukraine and Minister for Communities, Territories and Infrastructure Development, Oleksandr Kubrakov, and Minister of Finance, Sergii Marchenko, participated virtually. They emphasised that the CEB’s extensive experience will be indispensable in rebuilding the country’s social infrastructure, and that the decision of Ukraine to join the Bank opens new horizons for development and will contribute to the financial stability, recovery, and their aspirations to be a part of the EU.

In Athens, Deputy Prime Minister Kubrakov thanked the CEB for its support in making Ukraine’s membership in the Bank possible and for the help it has already provided to the Ukrainian people. “Today, it is important to lay a solid foundation for the restoration of social infrastructure, which is an area in which the CEB has extensive expertise. In particular, we are interested in the Bank’s participation in the restoration of housing, healthcare and education facilities, as well as the development of a network of rehabilitation centres for veterans. It is important for us to create conditions for the return of Ukrainians who were forced to leave their homes. The CEB’s experience is indispensable here”, said the Deputy Prime Minister.

Commenting on his country’s membership on 15 June, Minister of Finance Sergii Marchenko said: "Ukraine's accession to the CEB is another step towards our country's further integration with the European Union. Both sides have made substantial efforts to fulfill this goal. We are confident that the CEB will play an important role in Ukraine's recovery process and help us to overcome the existing challenges." 

In welcoming the news, CEB Governor Monticelli reiterated: “Ukraine’s accession to the CEB is a great honour. It is a testimony to the confidence that Ukraine places in the Bank's capacity to deliver and its value-added to support the country’s recovery, reconstruction and long-term social development.” The Bank will operate in Ukraine, with a distinct focus on social sectors, such as healthcare and housing. Engaging with Ukraine is one of the overarching goals of the CEB’s Strategic Framework 2023-2027, while continuing to support the development needs of other member states. 

Ukraine’s accession happens less than a year after the country formally applied for membership in June 2022. At the 55th Joint Meeting in July 2022, the CEB’s member states unanimously endorsed Ukraine’s request, and as a tangible sign of support in light of the exceptional circumstances that Ukraine is facing, agreed to exonerate the country of any payment requirement for accession.