Germany to Allocate Additional €111 Million for Ukraine's Recovery

Wednesday, 19 April 2023

The German Federal Ministry for Economic Cooperation and Development (BMZ) will invest additional funds of €111 million into Ukraine.

German State Secretary for Development Cooperation, Jochen Flasbarth, agreed on the aid package in Kyiv with Ukraine's Deputy Prime Minister Iryna Vereshchuk and Finance Minister Serhii Marchenko, as reported by the German Ministry for Economic Cooperation and Development.

The funds will be directed toward housing for internally displaced persons and supporting Ukrainian municipalities, such as repairing and equipping kindergartens, schools, and hospitals.

"The reconstruction of Ukraine will be a huge task for the country, its people, and for us as an international community. It begins now, even though unfortunately the war does not seem to have an end in sight. This long-term perspective and early planning are essential. We want to show the people of Ukraine that we will continue to stand in solidarity with them," Flasbarth said.

"In the end, this is also an investment in the future of Europe, as a strong Ukrainian economy will also be an important pillar of our common European prosperity," he added.

Flasbarth is in Ukraine from 18 to 19 April as a representative of the German federal government for coordinating international efforts on reconstruction. In addition to negotiations with the Ukrainian government on expanding bilateral cooperation, the trip includes talks with Ukrainian civil society on strengthening anti-corruption measures and transparency, as well as exchanging ideas with Ukrainian entrepreneurs on the situation in the Ukrainian economy during wartime and the role of the private sector in reconstruction.

More than half of the €111.48 million announced during the visit will be invested by BMZ into Ukrainian cooperation projects with the International Organisation for Migration (IOM), aimed at restoring public infrastructure at the level of united territorial communities.

Since the full-scale invasion, BMZ has allocated a total of about 787 million euros to support Ukraine. The total civilian support of Ukraine from the German government during the war (without the costs of supporting refugees from Ukraine in Germany) amounted to about 3.6 billion euros.

On Wednesday, it became known that Germany handed over the second of the four promised IRIS-T SLM anti-aircraft missile systems to Ukraine.

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