Baerbock pledges support for Ukraine's reconstruction at all stages

Federal Minister for Foreign Affairs of Germany Annalena Baerbock stated this before the start of Ukraine Recovery Conference (URC23) in London, Ukrinform reports.

The Foreign Minister said that together with Federal Minister for Economic Cooperation and Development of Germany Svenja Schulze they would make it clear at the URC23 that Germany's support is reliable today, tomorrow, and the day after tomorrow. For a lasting peace, it is not enough that Ukraine wins Russia's war. She emphasized that Germany wants Ukraine to become part of the European project of peace and prosperity.

In the short term, Berlin is providing a large new humanitarian aid package to help families most affected by the destruction, flooding, and displacement. Baerbock did not specify the amount. In the medium term, it will be by helping to finance reconstruction. But above all, the minister emphasized, in the long term, they will help to lay the groundwork for a sustainable and prosperous Ukrainian economy as the country pursues EU membership.

The bare numbers indicate the enormous task of reconstruction. In 2022 alone, Ukraine lost 29% of its GDP, and inflation reached up to 27%, the diplomat reminded. The World Bank estimates that reconstruction will cost over USD 400 billion over the next ten years.

Baerbock said that in the coming years, sustainable development will require primarily private investment. She says it is encouraging that despite the war, many German companies are still operating in Ukraine. Every product delivered and every service provided means jobs and a piece of the future for the people of Ukraine. The federal government will continue to support them, for example, with national investment guarantees, Baerbock added.

She noted that thousands of Ukrainian schools are in ruins, hundreds of thousands of homes have been destroyed, and Russian bombs have hit factories, power plants, and train stations. With the war of attrition, Russia wants to bring Ukraine to its knees and prevent the emergence of a free and economically strong Ukraine next to the isolated and corrupt Putin regime, the diplomat said.

That is why Germany and its partners are countering Putin's blind destructiveness with a reconstruction offensive, the German Foreign Minister stated.

As reported, the United Kingdom is hosting a conference on Ukraine's reconstruction on June 21. The Ukrainian delegation is headed by Prime Minister Denys Shmyhal.