The German government at its meeting on Wednesday, April 10, approved a program of measures aimed at attracting private investments, as well as funds from philanthropists and various foundations, to the restoration of the Ukrainian national economy destroyed by the war, DW reports.

"It is in Germany's interests to promote a stable, democratic and economically prosperous Ukraine. The damage and losses inflicted on Ukraine by Russia's aggressive war are enormous, and only at the expense of budgetary funds can they be compensated," Deputy official representative of the Chancellor Christiane Hoffmann said at a government press conference.

The program of measures approved by the government provides, in particular, for the promotion of private investments by both Ukrainian and German, as well as other foreign entrepreneurs. According to Hoffmann, the improvement of investment conditions, for example, minimizing risks and additional payments to capital investments, will also go to EUR 7 billion from the EU fund created to help Ukraine.

In addition, in Ukraine itself, on the basis of the German-Ukrainian Business Development Fund, which has existed since 1999, with the help of Germany, a financial structure such as the German state bank Kreditanstalt für Wiederaufbau (KfW) will be created to assist domestic investors.

Due to German financial subsidies, this fund has the opportunity to provide investment loans at preferential interest rates. According to the German government, after the beginning of the Russian aggression, about 40,000 small and medium-sized enterprises have already taken advantage of this opportunity to stay on the market.

"Germany has accumulated a very good experience of KfW Bank, which, in fact, paved the way for the German economic miracle in the 1950s and 1960s and still provides businesses and citizens with cheap loans for their investments," recalled Minister for Economic Cooperation and Development Svenja Schulze.