Ukraine will need, after the war with Russia, a reconstruction plan similar to the one offered by the USA after the Second World War, the European Commissioner for Budget, Johannes Hahn, declared on Wednesday.

Under the post-World War II Marshall Plan, the United States provided Europe with $ 200 billion worth of economic and technical assistance for four years today.

“I think what we need for Ukraine, at the end of the day, is an updated model of the Marshall Plan,” Hahn was quoted as saying by Agerpres in a press briefing.

The European Commissioner for Budgets said that such a plan would help Ukraine recover quickly, not in decades, from the massive destruction caused by the Russian army, and would lead to a faster convergence of Kiev with the European Union.

Ukraine has applied to become an official candidate for EU membership. But this process is long even in peacetime, and war has made it almost impossible.

Hahn did not make an estimate of how much money would be needed, but said that efforts to rebuild Ukraine could not be supported by the EU alone and that the involvement of G20 countries, including Russia.

He reiterated that, for the time being, the EU does not intend to start a new joint loan scheme to deal with the economic and social consequences for the Ukrainian bloc of the war in Ukraine.

Hahn explained that there are enough cheap unused loans in the EU recovery plan that governments can ask for. He added that out of a total of € 380 billion in cheap loans available in the fund, governments have so far requested only € 166 billion, so that € 214 billion is still available.

He added that in order to cover some of the costs of managing the millions of Ukrainian refugees who arrived in EU countries since the start of the war on February 24, member states could use some of the funds allocated to them in the EU budget for the period. 2021-2027.

Publisher: IC

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