Germany's Scholz proposes EU solidarity fund to rebuild Ukraine

The European Union must make preparations for rebuilding Ukraine after the war by setting up a solidarity fund to help cover the billions of euros reconstruction will cost, German Chancellor Olaf Scholz said.

Addressing parliament ahead of a meeting of EU leaders, Scholz said French President Emmanuel Macron was right that EU accession was not a matter of a few months or years, meaning it was all the more important to focus on pragmatic, immediate support.

"Rebuilding destroyed infrastructure and revitalizing the Ukrainian economy will cost billions," he said. "We as the EU must start laying the ground for a solidarity fund financed by contributions from the EU and its partners."

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