Dynamite News
Ukraine War: German Chancellor Vows To Help Rebuild Ukraine
Rebuilding Ukraine will cost 349 billion US dollars, according to an analysis released last month by the World Bank. Read on for details:
Berlin: German Chancellor Olaf Scholz 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 said on Monday.
Rebuilding Ukraine will cost 349 billion US dollars, according to an analysis released last month 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 US dollars. (with UNI inputs)