Germany allocates additional €200 mln aid to fund Ukraine's restoration
Germany has decided to allocate an additional 200 million euros for the reconstruction of Ukraine, says the economy minister.
What is the problem?
Despite the ongoing war in Ukraine, the whole world is actively discussing opportunities to rebuild the country. After all, Ukraine's reconstruction and recovery needs are estimated at an unprecedented $411 billion.
As of 2023, Ukraine urgently needs at least $14 billion for projects, including the restoration of energy, housing, critical and social infrastructure, basic services for the most vulnerable, and demining.
What is the solution?
Germany has decided to allocate an additional 200 million euros for Ukraine's recovery.
Як це працює?
Minister Flasbart, who is responsible for coordinating the reconstruction efforts in Ukraine, says the money will be used for education health care, drinking water supply, rebuilding cities.
While in Kyiv, Flasbart also emphasized the importance of supporting key sectors of Ukraine's economy, such as agriculture, "because people need prospects and jobs."
The German Ministry of Reconstruction has allocated about one billion euros in total to support the civilian population of Ukraine since the beginning of full-scale Russian aggression.
In April, Flasbart had already visited Ukraine and announced the allocation of 111 million euros for reconstruction.
At that time, the German Federal Government Commissioner for Ukraine's reconstruction also said that in its efforts to rebuild Ukraine's destroyed infrastructure, Berlin would proceed from the premise that this infrastructure would eventually become a common European infrastructure.
