Benefactors must start working out a Marshall Plan for Ukraine
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4 min read . Updated: 16 May 2022, 10:09 PM IST The West could use this well-tested model to lend the war-ravaged nation a hand on reconstruction
Premium 4 min read . Updated: 16 May 2022, 10:09 PM IST Listen to this article |
Talking up a Marshall Plan for Ukraine is a popular sport nowadays. The game starts by tossing out a figure for the cost of rebuilding Ukraine from the ravages of the Russian invasion: $250 billion, $500 billion or $1 trillion, depending on assumptions of how much is destroyed, the cost of refugee care, etc. The overall cost of the post-World War II Marshall Plan is then compared with US GDP in 1948, when the programme started. This typically leads to the conclusion that the cost of Ukrainian reconstruction relative to the size of donor countries will be in the same ballpark as the Marshall Plan.
