A 'Marshall Plan for Ukraine' will require more than just funding


Mark Green
Mark Green
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December 23, 2022

While Russia's bloody war on Ukraine is far from over, Ukraine’s battlefield progress has led many to begin contemplating the country’s post-war future.

A growing chorus of voices is calling for a “Marshall Plan for Ukraine”. And why not? In recent times, Mexican President Andres Manuel Lopez Obrador has called for a Marshall Plan for Central America, former German chancellor Angela Merkel called for one for Africa, and Pakistan Foreign Minister Bilawal Bhutto Zardari wants a "Green Marshall Plan" for Pakistan. Former US vice president Al Gore has even called for a "Global Marshall Plan".

The problem is that many in that chorus only seem interested in a Marshall Plan for the amounts of assistance it would probably bring. After all, the original Plan, which was enacted in 1948, involved about $130 billion in today’s dollars.

But in reality, the European Recovery Programme – its official name – was a lasting success because it was about much more than money and the humanitarian imperative of easing economic hardship. Leaders of the time realised that they also had an opportunity to counter the Soviet Union's expansion, as well as limit the influence of forces opposed to market-based economics. Accordingly, the Plan was built on terms and conditions that would reinforce Europe’s commitment to a future based upon democracy, liberty and market-based economic policy.

It required policies and reforms that encouraged regional co-operation and integration, as well as private enterprise and competition, balanced budgets, stable exchange rates, and liberalised price controls. It promoted increased trade within Europe, and between Europe and the rest of the world, as a critical tool to prevent economic stagnation and to stymie the spread of communism.

It was also designed as a four-year project, with a definite sunset and implemented by a temporary government agency, not an ongoing national security programme administered by a standing department or agency. The framers wanted recipient countries to keep their sights on “life after aid” and to pursue the notion of self-reliance over aid dependence.

George C Marshall, the late US secretary of state, proposed the European Recovery Programme, commonly known as the Marshall Plan. AFP
George C Marshall, the late US secretary of state, proposed the European Recovery Programme, commonly known as the Marshall Plan. AFP

Those calling for a Marshall Plan should also appreciate how different today’s world is from the one that war-torn Europe faced. In those days, the Soviet Union was acknowledged as the greatest challenge to democracy, economic liberty and a capitalist world order. Today’s challenges come from Beijing, and there is only modest agreement in the West on how it should respond to China’s geopolitical ambitions, and its aggressive economic and technology-centred initiatives.

In today’s world, unfortunately, there are also significant disagreements (even in the US) on the role of trade in the global economic framework. There seems little support for a US-EU trade agreement – or even the US-UK trade agreement that Brexiters and others took for granted. There are ongoing disagreements over regulatory standards for new industries and how to handle foreign investment in critical infrastructure. In some ways, we in the West need to reaffirm our belief in trade and western economic leadership if we are going to assist Ukraine in its economic journey.

Perhaps the biggest difference is that, while America held a preponderance of military and economic power in the wake of the Second World War, in modern times, Europe is economically stronger and more integrated than before. Since Ukrainians see themselves as European – that’s what this war is largely about – it seems logical that Europe, not the US, should play the leading role in helping Ukraine seize its future.

In short, if growing calls for a “Marshall Plan for Ukraine” are sincere efforts to harness all that the European Recovery Programme brought – including incentivised policy reforms and targeted institution strengthening – they are on the mark. If, on the other hand, they are merely efforts to dress up open-ended spending, they will represent both a missed opportunity and a betrayal of the sacrifices that so many Ukrainians have made.

Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

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What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Why are asylum seekers being housed in hotels?

The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.

A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.

The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.

When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.

Two-step truce

The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.

By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National. 

The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.

The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.

The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

UAE currency: the story behind the money in your pockets
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The years Ramadan fell in May

1987

1954

1921

1888

Updated: December 24, 2022, 5:32 AM`