Full cost of rebuilding Ukraine impossible to quantify, says German finance minister

BERLIN, Could 24 (Reuters) – German Finance Minister Christian Lindner claimed on Tuesday it was difficult to say how a lot it would cost to rebuild Ukraine as extensive as battling with Russia carries on, amid European Union conversations on how to fund more support for Kyiv.

“The Ukrainian facet isn’t going to discuss a lot about reconstruction. The priority is stopping the war, the priority is securing the performance of the Ukrainian condition,” Lindner reported in Brussels just after the May well assembly of European finance ministers.

“No one particular can set a selection on how wonderful the want is to rebuild the region,” he additional.

Furnishing reconstruction help to Kyiv was not just the accountability of Europe, but also international bodies these kinds of as the Global Monetary Fund, the World Lender and the personal banking sector, additional Lindner.

He also alluded to the likelihood of seizing Russian condition assets to support fund reconstruction – a Ukrainian request which the minister explained very last 7 days was getting deemed by the Team of Seven (G7) nations. study far more

Past 7 days, the European Fee proposed placing up a “RebuildUkraine” facility of grants and financial loans of unspecified dimension, modelled on the EU’s existing restoration fund for which the bloc jointly borrowed on the current market. go through more

It stays unclear how this new fund would be financed, but Lindner reiterated on Tuesday that Germany procedures out the issuance of any additional joint EU credit card debt and named for a consolidation of EU finances in 2023.

Reporting by Miranda Murray and Rachel Far more Enhancing by Emelia Sithole-Matarise

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