World News | Germany to Allocate Additional USD 40 Mln for Reconstruction of Ukraine
Get latest articles and stories on World at LatestLY. 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.
Berlin [Germany], April 22 (ANI/Sputnik): 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.
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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)
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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)