Scholz, von der Leyen propose reconstruction fund for Ukraine
Scholz and von der Leyen propose to create donor platform for Ukraine's recovery (Photo:REUTERS/Yves Herman)
German Chancellor Olaf Scholz and President of the European Commission Ursula von der Leyen proposed a new Marshall Plan to fund post-war reconstruction of Ukraine, Forbes reported on Oct. 24. The proposal is expected to be discussed at the upcoming high-level meeting in Berlin, Germany, on Oct. 25.
According to the officials, neither Ukraine nor individual partners alone will be able to cope with the damage caused by the Russian invasion; the World Bank estimates it at $350 billion, at the very least.
G-7 countries and the EU have already provided Ukraine with more than $35 billion in emergency financial assistance.
“Together with our G-7 partners and other countries, with the support of international organizations and Ukraine, we intend to lay the foundations for an inclusive donor platform to coordinate the process of immediate restoration of destroyed infrastructure and the beginning of Ukraine’s long-term recovery,” the report says.
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