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Ukraine is hoping for $500 million a month in financial aid from Germany

Ukraine is pushing for a large contribution from Germany to finance the state in times of war.

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Ukraine is hoping for $500 million a month in financial aid from Germany

Ukraine is pushing for a large contribution from Germany to finance the state in times of war. “We need four to five billion dollars for our budget every month. We believe that Germany could take on around $500 million a month, especially with a view to 2023. From the EU as a whole we are hoping for around $2 billion a month," said President Volodymyr Zelenskyi's economic advisor Alexander Rodnyansky Newspapers of the "Funke Media Group". "The state has to function, the pensions have to be paid out."

"Before the latest attacks, infrastructure destruction damage was estimated at around $120 billion," Rodnyansky added. According to calculations by the World Bank, the damage to the economy – company closures, unemployment – ​​is around 200 to 250 billion dollars. "According to forecasts, gross domestic product will collapse by around 35 percent this year."

Rodnyansky is hoping for emergency aid for Ukraine in the form of diesel generators, emergency power generators or mobile power plants from the West. The international reconstruction conference taking place this Tuesday in Berlin will deal with the "medium to long-term challenges" after the war.

At the German-Ukrainian Conference on Reconstruction on Monday, Ukrainian Prime Minister Denys Shmyhal put the financial requirements for reconstruction at 750 billion dollars. According to Chancellor Olaf Scholz, it must be borne in mind that the country should be a member of the EU in the future.

Rodnyansky said about the reconstruction conference for Ukraine: "We hope for better coordination with the western partners so that we can agree on a plan." But it is also about the concrete strategy for reconstruction. "We have to clarify which industries we should promote," said the consultant.

"Kick-off Politics" is WELT's daily news podcast. The most important topic, analyzed by WELT editors, and the dates of the day. Subscribe to the podcast on Spotify, Apple Podcasts, Amazon Music or directly via RSS feed.

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