German Chancellor Scholz Urges Private Investments in Ukraine Reconstruction

German Chancellor Olaf Scholz has called on private companies to invest in Ukraine's post-war reconstruction. Speaking at a Berlin conference, Scholz highlighted the $500 billion needed, as estimated by the World Bank. He also announced additional German military support for Ukraine's defense against Russian aggression.


Reuters | Berlin | Updated: 11-06-2024 14:13 IST | Created: 11-06-2024 14:13 IST
German Chancellor Scholz Urges Private Investments in Ukraine Reconstruction
Olaf Scholz
  • Country:
  • Germany

German Chancellor Olaf Scholz on Tuesday rallied private companies to put their money into rebuilding Ukraine, as he launched a conference in Berlin dedicated to mobilising international support for post-war reconstruction.

Citing World Bank estimates that Ukraine could need $500 billion over a decade, Scholz said companies had to be offered a business case for investing and talked up Ukraine's potential in sectors including renewables, IT and pharmaceuticals.

He also said Germany was sending more air defence systems, missiles and munitions to bolster Kyiv's defences against a barrage of Russian attacks on cities and critical infrastructure more than two years after Russia launched a full-scale invasion.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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