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  • World Economic Forum President Borge Brende calls for “Marshall Plan” in Ukraine

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World Economic Forum president calls for Ukrainian ‘Marshall Plan’

World Economic Forum President Borge Brende called for a “Marshall Plan” to rebuild Ukraine ahead of the World Economic Forum’s annual meeting in Davos, Switzerland.

The Marshall Plan was an American initiative that supported the reconstruction of several European economies after World War II.

The World Economic Forum’s annual meeting in Davos was originally scheduled to be held in January but was postponed to the end of May.

“Even without a peace agreement, which is currently unlikely, we must work on reconstruction, at least in areas under Ukrainian control,” Brende told the Süddeutsche Zeitung on Monday.

“We need a Marshall Plan for Ukraine.”

Brende said he would like to push for such a plan at the World Economic Forum in Davos, which begins Monday.

According to Brende, Ukraine is not the only concern facing the global economy.

“It’s also climate change. It’s also that global growth is slowing down,” Brende told The Associated Press. “It’s no business as usual.”

Brende said “we need to avoid this very weak recovery ending in another recession because we have very limited ammunition to fight another recession.”

“A new recession will lead to increased unemployment, increased poverty,” he said. “So much is at stake.”

Originally scheduled for late January, travel restrictions amid the emergence of the omicron COVID variant prompted organizers to delay the event.

Summary of the events of the Ukraine-Russia crisis on Sunday

Moscow’s chief negotiator said Russia was ready to resume peace talks with Ukraine, but the initiative had to come from Kyiv.

Ukraine ruled out a ceasefire or any territorial concession to Moscow for a second time. Presidential Chief of Staff Andriy Yermak said “the war must end with the full restoration of Ukraine’s territorial integrity and sovereignty”.

Russia has announced its intention to field some 50 new nuclear-capable Sarmat intercontinental ballistic missiles by the end of the year.

French Secretary of State for European Affairs Clément Beaune said Paris did not want to offer Ukrainians “illusions or lies” about joining the European Union. “[Ukrainian EU accession] it’s probably in 15 or 20 years, it takes a long time.”

Crowds at a rock concert in St. Petersburg were recorded chanting an anti-war slogan on Friday. In a video shared on social media, the crowd can be heard chanting “f— war!” during a concert of the Russian group Kiss Kiss.

German Chancellor Olaf Scholz, visiting Senegal as part of an African tour, pledged help to deal with rising food prices and missing deliveries from Ukraine, and said the Europe would be a willing customer for the liquid natural gas reserves that Senegal has recently started trying to exploit.

As the war in Ukraine is about to enter its fourth month, the country’s parliament has extended general mobilization for another 90 days.

You can read our live updates from Sunday, May 22 here.

sdi/msh (AP, AFP, dpa, Reuters)


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