Wednesday, November 30, 2022
Home Top Stories German chancellor pledges to help rebuild Ukraine

German chancellor pledges to help rebuild Ukraine

Berlin | German Chancellor Olaf Scholz has vowed to provide comprehensive assistance in the rebuilding of Ukraine, including aid for agriculture, the health sector and the restoration of the country’s energy network. “Together with our partners, we will support Ukraine as long as necessary,” Scholz said at the opening of the German-Ukrainian business forum in Berlin.

According to the Xinhua news agency, the restoration of the country will be “the task of a generation”.

According to an analysis released in September by the World Bank, the European Union (EU) and the Ukrainian government, the reconstruction of Ukraine will cost $349 billion.

This figure is equivalent to one and a half times the gross domestic product (GDP) of Ukraine before the start of the conflict with Russia.

World Bank President David Malpas said earlier this month that “Ukraine’s recovery and reconstruction needs are massive and growing.”

Meanwhile, Ukrainian Prime Minister Denis Schmihal has estimated the cost of reconstruction in the country to be $750 billion.

Scholz promised that German companies would invest in Ukraine, emphasizing that ‘anyone who invests in the reconstruction of Ukraine today will invest in a future EU member state.’

Most Popular

close