Possible Marshall Plan for Ukraine to be discussed by G7

23 June, 11:09 AM
German Chancellor Olaf Scholz (Photo:REUTERS/Valentyn Ogirenko)

German Chancellor Olaf Scholz (Photo:REUTERS/Valentyn Ogirenko)

The G7 group of leading industrialized countries will discuss a draft “Marshall Plan” for the reconstruction of Ukraine at their upcoming summit meeting in Bavaria, Germany, at the end of June, the Associated Press said in a report on June 22.

According to the AP, German Chancellor Olaf Scholz hopes for a united front of long-term support for Ukraine.

Chancellor Scholz said the reconstruction of Ukraine would be a task for several generations of Europeans.

Scholz added that billions of dollars would be required to finance the reconstruction of Ukraine over many years. The plan could only work if European countries, other major donor countries, and international organizations work together, he said.

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The German chancellor also said he was convinced that a crucial part of this recovery plan would be its structure – the way in which international coordination would be carried out, how investment priorities would be determined, and so on.

Scholz added that together with European Commission President Ursula von der Leyen, he intends to assemble a conference of experts on Ukraine to be convened under the umbrella of Germany’s G-7 presidency.

The G7 grouping will hold its 48th summit meeting from June 26-28 at Schloss Elmau, near the small town of Krün in the Bavarian Alps in Germany.

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