Germany is currently providing guarantees on investments totaling 221 million euros ($242 million) in Ukraine, following a visit by the economy minister to drum up support for the country, according to Economy Ministry sources.

According to the sources, these guarantees cover 11 projects in Ukraine by German companies.

Three new investment guarantees have been added to the list since Russia invaded Ukraine in February 2022, they added. These are in the areas of seeds, production of building materials and electronics.

The ministry sources also spoke of 21 applications to secure a further 48 million euros in investments, spanning from energy production to agriculture and logistics.

Economy Minister Robert Habeck, who also serves as vice chancellor of Germany, visited Ukraine on Monday and Tuesday together with a small business delegation.

With a view to helping rebuild the war-battered country, Habeck told German companies that their capital would be backed by state guarantees if they invested in Ukraine now.

This means that if factories were to be damaged or destroyed in missile attacks, the German state would be liable for those investments.