It is impossible to measure the full cost of rebuilding Ukraine, says German Finmin

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BERLIN – German Finance Minister Christian Lindner said on Tuesday that the cost of rebuilding Ukraine would remain high as long as the war with Russia continues, with the European Union discussing how to further fund Kiev.

“The Ukrainian side does not talk much about restructuring. The priority is to end the war, to secure the effectiveness of the Ukrainian state, “Lindner said in Brussels after a meeting of European finance ministers in May.

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“No one can say how much the country needs to be restructured,” he added.

It is not only Europe’s responsibility to provide reconstruction assistance to Kiev, but also international organizations such as the International Monetary Fund, the World Bank and the private banking sector, Lindner added.

He also mentioned the possibility of confiscating Russia’s state resources to fund reconstruction – a Ukrainian request that the minister said last week that the seven G7 countries were considering.

Last week, the European Commission proposed the establishment of a “reconstruction Ukraine” facility of indefinite grants and loans, a model of the existing EU recovery fund for which the bloc has jointly borrowed in the market.

It is unknown at this time what he will do after leaving the post. (Reporting by Miranda Murray and Rachel Moore; Editing by Amelia Seithol-Mataris)

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