Taxpayers, Brace for Impact: G7 to Discuss ‘Marshall Plan’ for Ukraine

German Chancellor Olaf Scholz said Wednesday that he wants to discuss the outlines of a “Marshall plan for Ukraine” with the leaders of the Group of Seven countries at their upcoming summit in Germany.

Scholz hopes for a united front on long-term support for Ukraine when he hosts the annual G-7 summit in Bavaria next week. The group of the world’s leading economic powers is made up of the U.S., France, Germany, Italy, the U.K., Canada and Japan.

The chancellor told Germany’s parliament that “rebuilding Ukraine will be a task for generations.” Recalling his visit last week to Irpin, a Kyiv suburb that saw intense fighting, he said that “some things there remind not just me of the pictures of German cities after World War II.”

Like Europe then, “Ukraine today needs a Marshall plan for its rebuilding,” Scholz said – referring to the U.S.-sponsored plan that helped revive European economies after WWII.- READ MORE