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European Union, G7 and Over 30 Countries Adopt Declaration on Ukraine's Reconstruction and Recovery

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Photo: European Union, G7 and Over 30 Countries Adopt Declaration on Ukraine's Reconstruction and Recovery. Source:  president.gov.ua
Photo: European Union, G7 and Over 30 Countries Adopt Declaration on Ukraine's Reconstruction and Recovery. Source: president.gov.ua

The G7+Ukraine meeting was held in New York, during which more than 30 countries and the European Union adopted a Joint Declaration on Support for the Recovery and Reconstruction of Ukraine.

President of Ukraine Volodymyr Zelenskyy, US President Joe Biden, President of the European Commission Ursula von der Leyen, Prime Minister of the United Kingdom Keir Starmer, President of the Italian Council of Ministers Giorgia Meloni, and Prime Minister of Canada Justin Trudeau spoke at the meeting.

In a statement, the White House called the event ‘historic’.

Joe Biden stressed that this declaration is being made public to show support for Ukraine now and in the future.

‘I am determined to ensure that Ukraine has what it needs to win and fight for its survival. Tomorrow, I will announce a series of actions to accelerate support for Ukraine's military,’ the US President said.

He also stressed that partner countries will help Ukraine move from economic stability to economic revival. According to Biden, the proceeds from frozen Russian assets will be used to rebuild the country.

Volodymyr Zelenskyy noted that this joint commitment would contribute to Ukraine's recovery. It provides for the coordination of relevant efforts through the Ukrainian Donor Platform. The President stressed that this support should become tangible this year.

‘This is evidence of our common view of life - we protect people, and we provide people with the opportunity to live. And it is absolutely justified that those who are helping us to survive now will be the first to benefit from large-scale reconstruction,’ he stressed.

‘The main points of the declaration are: comprehensive support for the reconstruction of Ukraine on its path to EU membership, coordination of support through the Ukrainian Donor Platform, provision of additional financial support worth about USD 50 billion by the end of the year. The signatories clearly stated that they would provide additional financial support in the amount of about $50 billion by the end of the year from the proceeds of frozen Russian assets, part of which will be used for defence purposes.

The signatories made clear that through their collective support for Ukraine's reconstruction and recovery, they will ensure that Russia does not achieve its goals and will do everything to ensure that Ukraine has an economy that is resilient to Russian threats after the war.

The joint declaration is open for signature.

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