Ukraine needs new Marshall Plan when the war ends?

"Ukraine will need a reconstruction plan similar to the one USA offered to Europe after the Second World War", European Budget Commissioner Johannes Hahn said.

Izvor: Tanjug

Thursday, 07.04.2022.

08:54

Ukraine needs new Marshall Plan when the war ends?
Tanjug/AP Photo/Felipe Dana, File

Ukraine needs new Marshall Plan when the war ends?

After the war with Russia, Ukraine will need a reconstruction plan similar to the one offered by the United States to Europe after the Second World War, European Budget Commissioner Johannes Hahn said.

Under the post-World War Two U.S. scheme known as the Marshall Plan, the United States granted Europe the present-day equivalent of some $200 billion over four years in economic and technical assistance.

"I think that what we need for Ukraine, at the end of the day, is an updated model of the Marshall Plan," Hahn told a news briefing," Hahn said at news briefing, as Reuters reported.

He added that it would help Ukraine's rapid renewal and would lead to a faster convergence of Ukraine with the European Union. Kyiv has applied to become a formal candidate to join the 27 nation bloc. Even in peacetime that process is long, and it has been made almost impossible by the war raging in the country, according to Reuters.

Hahn did not give any estimate of how much money could be needed, but said the effort of rebuilding Ukraine could not be shouldered by Europe alone and that probably G20 countries would have to participate, including Russia.

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