In a strategic shift, German Chancellor Olaf Scholz has set his sights beyond the ongoing conflict in Ukraine, emphasizing his commitment to establish sustainable European Union support for Ukraine by year-end. This initiative aims to facilitate Ukraine’s progress toward EU membership, paving the way for a deeper and enduring partnership.
Chancellor Scholz unveiled the concept of a “Ukraine facility” designed to consolidate various forms of financial assistance, including grants, loans, and both private and public investments, alongside the existing grants available to Ukraine as an EU accession candidate. He unveiled this plan at a Berlin forum, primarily dedicated to encouraging German businesses to consider investments in Ukraine.
He articulated, “Investing in Ukraine at this juncture equates to an investment in a future EU member state, one that will be seamlessly integrated into our legal framework and internal market.”
Furthermore, Chancellor Scholz highlighted the substantial presence of German enterprises in Ukraine, with over 2,000 German businesses currently operating there. These companies are actively contributing to Ukraine’s economy, and their operations employ approximately 35,000 individuals who serve as suppliers to Germany’s robust automotive sector.
The German government will take a proactive role by hosting a Ukraine reconstruction conference in June. This conference aims to bring together international stakeholders to pledge support for Ukraine’s recovery and development in the face of ongoing challenges.
Chancellor Scholz’s ambitious vision seeks to secure Ukraine’s place within the European Union, while also fostering economic collaboration and recovery, transcending the shadow of the conflict with Russia’s invasion.
