Scholz and von der Leyen propose the creation of a new Marshall Plan for Ukraine.
Tuesday, October 25, 2022

Scholz and von der Leyen propose the creation of a new Marshall Plan for Ukraine.

German Chancellor Olaf Scholz and European Commission President Ursula von der Leyen have proposed launching a new Marshall Plan for the post-war reconstruction of Ukraine, reported Frankfurter Allgemeine. High-ranking EU officials believe that neither Ukraine nor its partners can cope with the losses on their own since, according to preliminary estimates alone, the amount needed for recovery reaches at least €350B. With this in mind, Scholz and von der Leyen have proposed launching an inclusive donor platform, which will provide a more transparent allocation of funds used to reconstruct Ukraine. At the 5th German-Ukrainian economic conference, the Recovery of Ukraine dossier will also be presented, which used the Marshall Plan for West Germany’s reconstruction after the Second World War, with assistance from the US,  as a model.

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