German minister arrives in Kyiv during massive Russian strike, pledges continued economic support

Germany’s Development Minister Svenja Schulze met with Ukrainian officials in Kyiv on 30 Oct., emphasizing that the country’s reconstruction requires private sector capital beyond the €9 billion annual government commitment Berlin has already pledged.
Germany’s Development Minister Svenja Schulze. Photo from open sources
German minister arrives in Kyiv during massive Russian strike, pledges continued economic support

Germany's Development Minister Svenja Schulze arrived in Kyiv on 30 October to encourage German companies to invest in Ukraine's reconstruction, reports DPA.

Schulze arrived in Ukraine overnight as the country endured one of the most severe Russian air attacks since the full-scale invasion began.

"Russia is attacking Ukraine with ever greater intensity. People die every day, air raid sirens sound every day, fear prevails every day," she said.

In Kyiv, the minister met with Deputy Prime Minister for Reconstruction Oleksiy Kuleba and urged German businesses to participate more actively in the country's recovery.

"Ukraine's reconstruction is impossible without a strong economy. That is why we continue to support the resilience of Ukrainian companies. Reconstruction also opens up opportunities for the German economy," Schulze stated.

According to the minister, the funds needed for Ukraine's reconstruction "cannot be financed exclusively through budget financing," and the country needs private investment.

Germany ranks among Ukraine's most important donors in its fight against Russia's full-scale invasion and recently overtook the United States as the largest provider of military aid.

Since the war began in February 2022, Germany's Development Ministry has provided Ukraine with €2 billion ($2.16 billion) in assistance.

Germany recently contributed €60 million ($65 million) to the Energy Support Fund for Ukraine to accelerate the supply of generators, energy equipment, and mobile thermal power plants.

The country has also committed to providing Ukraine with nine billion euros annually over the coming years.

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