Social News XYZ     

German Chancellor vows to help rebuild Ukraine

German Chancellor vows to help rebuild Ukraine

Berlin, Oct 25 (SocialNews.XYZ) 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 recognized 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.

Source: IANS

Facebook Comments
German Chancellor vows to help rebuild Ukraine

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at gopi@socialnews.xyz

%d bloggers like this: