Call for ‘gigantic’ Ukraine investment at G7 ministers meeting

Photo: Courtesy dpa

The G7 states want to draw up a global investment plan to help Ukraine recover from the Russian invasion, according to German Economy Minister Robert Habeck.

The country will need some €350 billion to get back on its feet, Habeck said during a meeting of G7 trade ministers in Neuhardenberg to the east of Berlin.

It should also be made easier for foreign companies to do business in Ukraine, he said.

“It’s about creating a big global-wide fund with a lot of money to be raised from private investors,” Habeck said. It would need to be a “gigantic sum,” he said.

EU Trade Commissioner Valdis Dombrovskis said on the sidelines of the meeting that “we’re talking about huge amounts, because we all see the major destruction which has been caused by Russia’s aggression.”

“And those amounts do not include the latest developments,” he added.

Germany currently chairs the G7 group of industrialized countries, which also includes France, Italy, Japan, Canada, the United States and Britain.

Ukrainian Deputy Prime Minister Yulia Svyrydenko was also attending. She commented at the meeting that her country was fighting on two fronts: an economic and a military one.



Courtesy © dpa Deutsche Presse-Agentur GmbH