Germany Takes Steps to Support Companies in Rebuilding Ukraine
- Measures approved include grants and investment guarantees
- Reconstruction could need investment of more than $1 trillion
A residential building destroyed by a missile attack in central Kyiv.
Photographer: Genya Savilov/AFP/Getty ImagesThis article is for subscribers only.
German Chancellor Olaf Scholz’s cabinet approved measures to support companies involved in the reconstruction of Ukraine, with a focus on grants and favorable interest rates for Ukrainian firms as well as investment guarantees for their German counterparts.
The government in Berlin is also working with Kyiv on a proposal to create an institution similar to Germany’s state development bank KfW to help with the rebuilding effort, according to a statement Wednesday. The initiative comes ahead of the next Ukraine Recovery Conference in June in Berlin hosted by Scholz and Ukrainian President Volodymyr Zelenskiy.