Germany on Thursday called for an international “Marshall Plan” for Ukraine to rebuild the war-ravaged country.
Speaking to lawmakers in the German parliament, Chancellor Olaf Scholz said Ukraine needs strong financial support from its Western allies to stabilize the economy, to cover the costs of reconstruction and recovery.
“During the EU leaders meeting, which starts today, we will discuss further support to Ukraine,” he said, adding that Ukraine’s short-term financial needs until the end of this year have been covered, but more support is needed for the middle- and long-term.
“If you’ve seen the pictures of the villages and towns, which have been liberated from Russian occupation, you will understand that this is a job for generations,” he said, and underlined that this will require a massive commitment like the post-WWII Marshall Plan.
Scholz said, as a first step, Germany, will host an international conference in Berlin next week, which will bring together scholars, policymakers, businesspeople and civil society representatives, to discuss the recovery and reconstruction of Ukraine.
“This is going to be an international expert conference, they will bring together proposals for a long-term, reliable and transparent reconstruction of Ukraine. They will provide input for an international Marshall Plan for Ukraine,” he said.
The Marshall Plan was a US-sponsored program designed to rehabilitate the economies of Western European countries after World War II.