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Ukraine needs 'Marshall Plan' to rebuild: Olaf Scholz

German Chancellor Olaf Scholz has called for a "Marshall Plan" to aid Ukraine's post-war recovery ahead of three back-to-back summits. Speaking before the German parliament on Wednesday, Scholz said that the reconstruction of Ukraine after Russia withdraws its troops would be "a generational task" that had to be supported by a "Marshall Plan."

Published June 22,2022
(Christian Mang/Reuters)

Ukraine needs massive financial help to rebuild after the devastation wrought by Russia's invasion, German Chancellor Olaf Scholz said Wednesday, saying the reconstruction would be a "task for generations".

In reference to the US initiative providing billions to help western Europe rebuild after World War II, Scholz said he had invited Ukrainian President Volodymyr Zelensky to participate in the G7 summit starting this Sunday, to "agree on what such a 'Marshall Plan for Ukraine' would look like".

The Marshall Plan was a US initiative enacted in 1948 to provide foreign aid to Western Europe. It enabled the German economy to recover and thrive after the devastation wrought by World War II.