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Russia-Ukraine War: G7 and EU launch Marshall Plan for Ukraine in Berlin

2022-10-25T19:15:02.999Z


The West wants to support Ukraine in reconstruction - but no specific sums have yet been promised at a conference. According to Zelenskyy, by 2023 Ukraine will need tens of billions for teachers, doctors and pensioners.


Enlarge image

Chancellor Olaf Scholz (right) with the Ukrainian Prime Minister Denys Schmyhal

Photo: CLEMENS BILAN / EPA

The European Union, together with the G7 countries, has launched a Marshall Plan for the reconstruction of Ukraine.

An expert conference in Berlin led by Chancellor Olaf Scholz (SPD) and EU Commission President Ursula von der Leyen gave the starting signal for such a program on Tuesday.

The model is the US aid to Europe after the Second World War.

The Federal Chancellor called the reconstruction a »generational task that must be started now«.

Private and state investors have to be brought together and a transparent donor platform is needed.

von der Leyen also warned that no time should be wasted.

"We have to make sure that Ukraine gets the support it needs at all times." Von der Leyen said the EU Commission was ready to take on a secretariat function.

However, no concrete financial commitments were made at the expert meeting.

In addition to Germany, the G7 group also includes France, Italy, Japan, Canada, the USA and Great Britain.

Selenskyj calls $38 billion in financial needs

Ukrainian President Zelenskyy said investments in hospitals, schools, transport routes and other vital infrastructure are particularly urgent.

More than a third of Ukraine's energy infrastructure was destroyed by rocket attacks.

This part of the reconstruction cannot be postponed until after the war, Ukraine needs money for that now.

The recovery fund being considered by the G7 must start work as early as next month.

The President named a financial requirement of 38 billion dollars to balance the national deficit in the coming year.

The money is needed to pay teachers and doctors and to pay out pensions.

The G7 have already pledged further financial aid for 2023.

In addition to military and humanitarian support, budget support of 20.7 billion US dollars has already flowed this year.

A total of $33.3 billion has been committed.

By far the largest donor is the USA. According to the Ministry of Finance, Germany is the largest donor within the EU with a share of 1.4 billion euros.

Morawiecki wants to use oligarch funds for reconstruction

Poland's Prime Minister Morawiecki said there was a big pot of money that could be used for reconstruction - namely frozen assets of Russian oligarchs (read a plea for the idea here).

One must be aware that three to five billion would have to be brought together for the reconstruction per month.

Indonesian President Joko Widodo announced a peace initiative for Ukraine for the G20 summit of leading economic powers in Bali in November.

At the summit, Indonesia will invite everyone to "sit down and engage in a constructive dialogue," said Widodo in a video message at the end of the conference in Berlin, according to simultaneous translation.

kko/dpa

Source: spiegel

All news articles on 2022-10-25

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