OTTAWA,
ON, Sept. 25, 2024 /CNW/ - We, the Leaders of
the Group of Seven (G7), reaffirm our unwavering support for
Ukraine today and in the future,
in war and in peace. As stated in the Apulia-G7 Leaders' Communiqué, together with
international partners, we remain determined to provide military,
budget, humanitarian, and reconstruction support to Ukraine and its people and are strongly
committed to helping Ukraine meet
its urgent short-term financing needs and to assisting with
Ukraine's long-term recovery and
reconstruction.
We dispel any false notion that time is on Russia's side or that Russia can prevail by causing Ukraine to fail economically. Russia's
war of aggression has wrought tremendous damage upon Ukrainian
cities and infrastructure. Today, we reaffirm a series of
commitments to counter its effects.
First, Russia's responsibility
under international law to pay for the damage it is causing is
clear. We reaffirm that, consistent with all applicable laws and
our respective legal systems, Russia's sovereign assets in our jurisdictions
will remain immobilized until Russia ends its aggression and pays for the
damage it has caused to Ukraine.
Second, we commit to use our economic assistance to ensure
Ukraine maintains macro-financial
stability, to repair and build critical infrastructure including in
the energy sector, to boost economic growth, to support social
resilience as well as the implementation of priority reforms. These
include improving the business climate, strengthening
anti-corruption efforts, implementing the justice system reform and
promoting of the rule of law within the context of the EU accession
process. We will also support Ukraine to ensure rapid and transparent
absorption of donor financing.
Third, we are continuing our joint work to implement the
decision made at the G7 Summit in Apulia to launch Extraordinary Revenue
Acceleration (ERA) Loans for Ukraine by the end of the year, in order to
make available approximately USD 50
billion in additional funding to Ukraine. The loans will be serviced and repaid
by the future flows of extraordinary revenues stemming from the
immobilization of Russian sovereign assets held in the European
Union and other relevant jurisdictions. Part of these funds will be
directed to military assistance to Ukraine. We will maintain solidarity in our
commitment to providing this support to Ukraine.
Fourth, we will continue to pursue our vision also by
strategizing, coordinating and steering our support for
Ukraine's economic recovery and
reconstruction through the Ukraine Donor Platform. This will
include catalyzing private sector contributions as well as
leveraging bilateral, European Union, and international financial
institution funding, and encouraging Ukraine's reform agenda in view of the
country's accession path to the EU. We will continue to support
Ukraine's human capital through
our ongoing response to humanitarian needs and social
protection.
Finally, we will continue to assess and monitor progress on
these commitments through Ukraine Donor Platform meetings and the
annual Ukraine Recovery Conference, the next edition of which will
be hosted by Italy in 2025.
In order to implement the above-mentioned commitments, we
will each work to provide Ukraine with specific,
bilateral support aligned with this joint declaration and with the
bilateral security agreements and arrangements that have been
negotiated and signed with Ukraine.
For its part, Ukraine is
committed to implementing its economic, judiciary, anti-corruption,
corporate governance, defense, public administration, public
investment management and law enforcement reforms. These reforms
are necessary and will be vital to enabling long-term support for
Ukrainian reconstruction and recovery.
Our message is clear: we remain committed to the strategic
objective of a free, independent, democratic and sovereign
Ukraine, within its
internationally recognized borders, that is prosperous and able to
defend itself. We highlight the importance of an inclusive and
gender-responsive recovery and the need to address the different
needs of women, children and disabled persons as well as other
population groups who have been disproportionately affected by
Russia's war of aggression.
Through our collective support for Ukrainian reconstruction and
recovery, we will ensure that Russia fails in its objectives to subjugate
Ukraine – and that Ukraine emerges from Russia's war of aggression with a modernized,
vibrant, inclusive society and innovative economy, resilient to
Russian threats. Other countries that wish to contribute to this
effort in support of Ukraine's
long-term reconstruction and recovery may join this Joint
Declaration at any time.
This document is also available at https://pm.gc.ca
SOURCE Prime Minister's Office