News Karnataka
Tuesday, December 05 2023

Berlin: German Chancellor vows to help rebuild Ukraine

German Chancellor Olaf Scholz
Photo Credit : IANS

Berlin: German Chancellor Olaf Scholz has vowed to provide wide-ranging assistance in rebuilding Ukraine, including aid for agriculture, the health sector and the restoration of the country’s energy networks.

“Together with our partners, we will support Ukraine as long as necessary,” Scholz said at the opening of a German-Ukrainian Business Forum in Berlin.

The restoration of the country will be “a generational task”, he was quoted as saying by Xinhua news agency.

Rebuilding Ukraine will cost $349 billion, according to an analysis released in September by the World Bank, the European Union (EU) and the Ukrainian Government.

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

“Ukraine’s needs for recovery and reconstruction are massive – and growing,” said World Bank President David Malpass earlier this month.

Meanwhile, Ukrainian Prime Minister Denys Shmyhal has estimated that the cost of reconstruction in the country will be as much as $750 billion.

Scholz promised that German companies will invest in Ukraine, emphasising that “whoever invests in the reconstruction of Ukraine today invests in a future EU member state.”

Ukraine has been a recognised candidate for membership of the EU since June, and Scholz reiterated Germany’s support for its accession. “I am very serious about this commitment, with all that it entails,” he said.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp