War-torn Ukraine is seeking up to $40 billion to fund the first part of a "Green Marshall Plan" to rebuild its economy, a senior Ukrainian government official told Reuters ahead of a summit this week.
LONDON (Reuters) - War-torn Ukraine is seeking up to $40 billion to fund the first part of a "Green Marshall Plan" to rebuild its economy, a senior Ukrainian government official told Reuters ahead of a summit this week.
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LONDON (Reuters) -Ukraine is seeking up to $40 billion to fund the first part of a "Green Marshall Plan" to rebuild its economy, including developing a coal-free steel industry, a senior Ukrainian official said ahead of an international summit. Politicians and financiers will discuss short-term funding issues as well as look at long-term reconstruction efforts at the two-day meeting, starting in London on Wednesday and co-hosted by Ukraine and Britain. It is expected to launch a "war risk" insurance scheme to cover companies that begin investing in Ukraine again and see government officials discuss behind the scenes if and how to use frozen Russian assets to fund some of the rebuild effort.
The west African nation has become the latest among a number of smaller emerging markets from Sri Lanka to Zambia to buckle under its debt burden as the economic fallout from COVID-19 and Russia's war in Ukraine fuelled inflation and borrowing costs around the globe. The to-do-list for Ghana's embattled government is long: pushing through a domestic debt exchange without upending its financial system, negotiating restructuring $13 billion in international bonds and executing spending cuts and tax rises.