Germany to allocate additional USD 40 mln for reconstruction of Ukraine

Germany will allocate additional 37 million euros (over USD 40 million) for the reconstruction of Ukraine: to build housing and restore the power grid, German Economic Development Minister Svenja Schulze said.

"Ukraine urgently needs housing for internally displaced persons, it needs the undamaged power grid ... My ministry has redistributed funds for these purposes as part of the emergency program," Schulze told the Augsburger Allgemeine newspaper.

Out of these funds, 22.5 million euros will be used to restore the power grid and 12.4 million euros to build housing. Two more million euros will be used to provide Ukraine with medical equipment.

The World Bank said that the Russian military operation resulted in infrastructure damage amounting to $60 billion. At the same time, Volodymyr Zelenskyy told the IMF that the Ukrainian economic losses had reached USD 550 billion. (ANI/Sputnik)

( With inputs from ANI )

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