Diplomatic Economy European Union Marshall Plan

G7 and EU launch Marshall Plan

The seven economically strong democracies and the European Union have launched a plan for the reconstruction of Ukraine. 

The G7 group of economically strong democracies and the European Union have jointly launched a Marshall Plan for the reconstruction of Ukraine. An expert conference chaired by German Chancellor Olaf Scholz and EU Commission President Ursula von der Leyen on Tuesday gave the go-ahead for such a programme, modelled on US assistance for Europe after World War II.

Scholz described the reconstruction of Ukraine as a “task for generations that must begin now”. Von der Leyen also warned that no time should be wasted. “We must ensure that Ukraine gets the support it needs at all times.” Ukrainian President Volodymyr Zelenskiy appealed for rapid international investment in his country, which has been severely devastated by the Russian war.

Scholz, as current G7 president, hosted the conference together with von der Leyen. The Ukrainian Prime Minister Denys Shmyhal arrived with a delegation from Kyiv, while Zelenskiy took part via a video link. No concrete financial commitments were made at the expert meeting, which was deliberately not designed as a donor conference.

Source: Deutschland