By Stocksak: The German lobby believes that Ukraine requires a Marshall Plan approach to rebuild.

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BERLIN (Stocksak). A German lobby group representing companies in Eastern Europe has called for a plan for Ukraine to be rebuilt that would replicate the Marshall Plan, which helped Europe recover after World War Two. The media group RND reported.

The 20-page “Rebuild Ukraine” dossier, which covers topics from industry to agriculture, energy, and more will be discussed at a Ukraine and Germany business forum in Berlin on Monday. Denys Schmyhal, the Ukrainian Prime Minister, and German Chancellor Olaf Scholz will attend.

Scholz and Ursula von der Leyen (President of the European Commission) made similar calls in Sunday’s opinion piece in German newspaper FAZ.

They wrote, “The path to rebuilding is also Ukraine’s path into Europe,” and stated that rebuilding must include tackling corruption and setting high standards for the rule of law.

According to the dossier of the lobby group, each European country involved in efforts for Ukraine’s reconstruction should nominate a coordinator to an advisory panel to link with Ukraine’s government.

The chair of the lobby group Michael Harms stated that German companies should be offered incentives to invest in Ukraine in the same way as the Marshall Plan, a U.S. initiative that encouraged investment in West Germany following World War Two.

Harms said to RND, “Companies require reliable contacts, rapid tenders, approval processes, as well as financial and legal safety.”

The German Chamber of Industry and Commerce, the organizer of the conference, was not immediately available to comment on the dossier.

According to a September report from the World Bank, Ukrainian government, and the European Commission, reconstruction of Ukraine could cost close to $350 billion. This is approximately 1.6 times the country’s $200 billion gross domestic product by 2021.

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