Huge capital required to rebuild Ukraine like Europe from post-1945: Janet

Brussels: Janet Yellen, US Secretary of the Treasury, said that there is a huge finding requirement to rebuild Ukraine and bring its economy back to the original state, comparable to the funding required for rebuilding Europe post-1945. At this time, Yellen also appealed to the European countries to pick up a big share of the funding. A proposal to provide funding of $40 billion has been presented in the US Congress. At the same time, the United States and European Union have also proposed using Russian foreign reserves for this purpose.

US Secretary of Treasury Yellen is currently on a visit to Europe. On Tuesday, she met Ursula Von Der Leyen, Chief of the European Union. At this time, discussions were held regarding the aid announced by the United States and European countries to Ukraine. The United States has provided an aid of more than $10 billion and nearly more than $4 billion out of this is in the form of weapons assistance. Moreover, the United States has passed a bill for an additional supply of $13.6 billion in aid to Ukraine. A few days ago, a proposal to provide aid of $40 billion to Ukraine was also presented in the US Congress.

On the other hand, the European countries have provided aid of more than 1 billion Euros. At the same time, the European Union has proposed to issue debt bonds worth 15 billion euros to run the Ukraine government. But the US Secretary of Treasury claimed that all this funding would not suffice to rebuild Ukraine. At the same time, the US Secretary of Treasury, Yellen, seems to be attempting to pass the responsibility of Ukraine onto the European countries with the appeal that the European countries should pick up a significant part of the funding.

A few days ago, Josep Borrell, the Chief of foreign affairs at the European Union, demanded that the frozen Russian foreign assets be used to rebuild Ukraine.