Scholz: investing in Ukraine means investing in a future EU member

October 25,2022 343
Scholz: investing in Ukraine means investing in a future EU member

Assistance in rebuilding Ukraine after the war “should be seen as investing in a future EU member,” Germany’s Chancellor Olaf Scholz said, EURACTIVE reported. He and Prime Minister of Ukraine Denys Shmyhal delivered opening speeches to kick off the 5th German-Ukrainian Business Forum – Rebuild Ukraine in Berlin.

“When we rebuild Ukraine, we do this with the goal of Ukraine as an EU member in mind,” Scholz said, adding, “Putin’s war has brought our countries closer together.”

He reminded that the EU leaders in June decided to grant Ukraine candidate status for EU membership and said this should also be seen as a “signal to private investors” – that investing in Ukraine means investing in a country that will be part of the European Community of law and the EU’s common market.

Shmyhal estimated the volume of investments that Ukraine will need for its post-war reconstruction at $400 billion and the damage done by the war at $750 billion.

Photo: “While this year’s Economic Forum is the fifth iteration of the regular conference, it is the first one since the start of Russia’s invasion of the country and was meant to work out what role Germany’s private sector can play in helping to rebuild Ukraine after the war.” [EPA-EFE/CHRISTIAN MARQUARDT]