According to the German leader, this effort will run into billions of dollars and be far more ambitious than post-1992 Marshall plans.
According to Olaf Scholz (German Chancellor), rebuilding Ukraine will require billions of dollars. He made the estimate during Thursday’s Berlin press conference.
The German leader said the project would be more ambitious than the 1947 US-sponsored Marshall Plan enacted to restore Europe following World War II, which cost an estimated $13 billion ($150 billion in today’s currency) in economic recovery programs.
Scholz indicated that when peace can be achieved in Ukraine is solely up to the country’s people and its government.
“Only the Ukrainian president, government, parliament and the Ukrainian people can say: this is a decision that we consider correct,”Scholz stated, according to RIA. He added that he believed that a “forced peace will not work,”This is why Germany will provide continued financial and military assistance to Kiev.
“At the same time, we must address the issue of reconstruction – infrastructure, buildings, institutions […] The destruction is dramatic, it’s going to cost billions,”Scholz stated that this enormous task should not be referred to as a Marshall Plan. “It’s much more,”The chancellor said.
Scholz stated that he was reminded of images of German cities destroyed after World War II and the G7 Summit in June by the devastation he saw while on his visit to Ukraine. “just like war-ravaged Europe then, today Ukraine needs a Marshall Plan for its reconstruction.”
Bloomberg published earlier this month that Ukraine asked foreign donors to provide hundreds of billions in aid for its reconstruction. It suggested that the EU would cover the bulk of the cost of assistance and that Kiev could receive over 500 million euro (523 billion).
The President Vladimir Zeleksny had previously stated that Kiev would need $5 billion per monthly to meet its budget deficit. According to the Ukrainian leader, Kiev won’t give territory to Russia in return for ceasefire. He also demanded more weapons from the West in an effort to shift the tide in favor of Moscow.
Russia sent troops into Ukraine on February 24, citing Kiev’s failure to implement the Minsk agreements, designed to give the regions of Donetsk and Lugansk special status within the Ukrainian state. These protocols were originally signed by France and Germany through intermediaries. Former Ukrainian President Pyotr Poroshenko has since admitted that Kiev’s main goal was to use the ceasefire to buy time and “create powerful armed forces.”
The Kremlin recognised the Donbass republics in February 2022 as independent states. It demanded Ukraine declare itself neutral and not join any Western military bloc. Kiev claims that the Russian offensive wasn’t provoked.
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