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Germany proposed to create a private fund for restoration of Ukraine

Apr 11, 2024

Germany is lobbying its EU partners to create a new investment fund to support private investment in Ukraine to help address the huge costs of post-war reconstruction.

This is reported by Euractiv.

Image

The fund is one of the 15 priorities approved by the German government to encourage private investment in Ukraine's post-war reconstruction in preparation for an international donor conference to be held in Berlin.

“Public money won’t be enough, we will also need private investors,” German Development Minister Svenja Schulze told reporters.

According to the latest World Bank forecasts, Ukraine will need about $486 billion to compensate for the damage caused by Russia's war.

According to Schulze, encouraging business investment in Ukraine is one of the main priorities of the 2024 Ukraine Recovery Conference to be held in Germany on June 11.

The fund proposed by Germany would provide capital from public donors to reduce risks and support "large-scale private investment projects in key sectors such as energy and infrastructure".

Author – Anastasiya Glotova, 11/04/2024

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