Berlin To Incur Expenses Of German Factories Destroyed In Ukraine - Economy Minister

BERLIN (UrduPoint News / Sputnik - 05th April, 2023) Germany will provide guarantees for companies working in Ukraine such as the Bayer AG chemical-pharmaceutical concern that will soon invest $65 million (60 million Euros) to build a seed farm: if it is destroyed, the state budget will cover the expenditures, German Minister of Economy Robert Habeck said on Wednesday.

"Bayer, the German pharmaceutical and chemical concern, invests 60 million (euros) here, and then Fixit, a company that has operated in Ukraine before, produces building materials here and will actually double their capacities," Habeck said in an interview to the ZDF tv broadcaster after his two-day visit to Kiev with an economic delegation.

According to a member of Habeck's delegation who represents Bayer, the factory in question is a corn and sunflower seed grain plant.

"If this factory building is destroyed, by a shelling for instance, the German government gives guarantees and covers the expenses," Habeck said. According to the minister, these guarantees have to provide security for potential investors.

He urged Ukraine to create good conditions for investments, which he named the main reason for his visit. He also said that Germany, the European Union and the United States together would not manage to collect the amount of money necessary to rebuild the country.

"We have invested a lot, in Russia in particular, but this market is lost. Now we might look for other markets - why not Ukraine?" he added.