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Ukraine needs Marshall Plan approach to rebuild, says German lobby

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A German lobby group representing companies in Eastern Europe has demanded a plan for Ukraine to be rebuilt that mirrors the Marshall Plan, which helped Europe recover after World War Two. RND reported that the group was backed by German media.

On Monday (24 October), the 20-page Rebuild Ukraine dossier was presented at a Ukraine-Germany Business Forum in Berlin. It will include topics such as industry, agriculture, and energy.

Scholz and Ursula von der Leyen, president of the European Commission, made similar calls for Ukraine to implement a "new Marshall Plan" in an opinion piece published by FAZ, a German business newspaper.

They wrote that the path to reconstruction was also Ukraine's way into the European Union.

According to the dossier of the lobby group, each European country that is involved in efforts to rebuild Ukraine was asked to nominate a coordinator for an advisory board that would link with Ukraine's government.

The chair of the lobby group Michael Harms stated that German companies should be offered incentives to invest in Ukraine in the same way as the Marshall Plan, a US initiative encouraging investment in West Germany following World War Two.

Harms stated to RND that companies need reliable contacts, fast tenders and approvals, as well as financial and legal security.

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The German Chamber of Industry and Commerce is organizing the conference. They were not immediately available to comment on the dossier.

According to a September report from the World Bank, Ukrainian government, and the European Commission, rebuilding Ukraine could be nearly $350 billion. This is approximately 1.6 times the country’s $200bn gross domestic product in 2021.

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