“We, the leaders of the G7 countries, confirm our steadfast support for Ukraine today and in the future, in war and peace. Through our collective support for Ukrainian reconstruction and recovery, we will ensure that Russia cannot achieve its goals of subjugating Ukraine and that Ukraine emerges from Russia’s war of aggression with a modernized, dynamic, inclusive society and an innovative economy resilient to Russian threats.”, — write: www.president.gov.ua
We refute any false notions that time is on Russia’s side or that Russia can win by causing Ukraine’s economic collapse. Russia’s aggressive war caused enormous damage to Ukrainian cities and infrastructure. Today, we confirm a number of commitments to overcome its consequences.
First, Russia’s responsibility under international law to pay for the damage it has caused is obvious. We confirm that, in accordance with all applicable laws and our respective legal systems, Russia’s sovereign assets in our jurisdictions will remain frozen until Russia ceases its aggression and pays for the damage it has caused to Ukraine.
Second, we undertake to use our economic assistance to ensure macro-financial stability in Ukraine, repair and build critical infrastructure, particularly in the energy sector, accelerate economic growth, support social stability, and implement priority reforms. Among them are the improvement of the business climate, the strengthening of the fight against corruption, the implementation of the reform of the justice system and the promotion of the rule of law in the context of the EU accession process. We will also support Ukraine in ensuring quick and transparent development of donor funding.
Third, we are continuing our joint work on the implementation of the decision taken at the G7 summit in Puglia to provide Ukraine with additional credits to increase budget revenues (ERA) by the end of the year, which will provide Ukraine with access to about 50 billion USD of additional financing. The loans will be serviced and repaid with future proceeds from the immobilization of Russian sovereign assets located in the European Union and other relevant jurisdictions. Part of these funds will be directed to military aid to Ukraine. We will remain united in our commitment to provide this support to Ukraine.
Fourth, we will continue to realize our vision also through the development of strategy, coordination and management of our support for the economic recovery and reconstruction of Ukraine through the Ukrainian Donor Platform. This will include accelerating private sector contributions, as well as attracting bilateral funding, funding from the European Union and international financial institutions, and encouraging Ukraine’s reform agenda on its path to EU membership. We will continue to support Ukraine’s human capital by constantly responding to humanitarian needs and social protection.
Finally, we will continue to assess and monitor progress in fulfilling these commitments through meetings of the Ukrainian Donor Platform and the annual Conference on the Recovery of Ukraine, which will next be held in Italy in 2025.
In order to fulfill the above obligations, each of us will work to provide Ukraine with specific bilateral support in accordance with this Joint Declaration and bilateral agreements and arrangements in the field of security that have been agreed and signed with Ukraine.
For its part, Ukraine undertakes to implement economic, judicial, anti-corruption reforms, corporate governance reforms, defense, public administration, public investment management and law enforcement system reforms. These reforms are necessary and vital to ensure long-term support for Ukraine’s reconstruction and recovery.
Our message is clear: we remain committed to the strategic goal of a free, independent, democratic and sovereign Ukraine within its internationally recognized borders that is prosperous and able to defend itself. We emphasize the importance of inclusive and gender-sensitive recovery, as well as the need to meet the various needs of women, children and persons with disabilities, and other population groups that have been disproportionately affected by Russian military aggression. Through our collective support for Ukrainian reconstruction and recovery, we will ensure that Russia cannot achieve its goals of subjugating Ukraine and that Ukraine emerges from Russia’s war of aggression with a modernized, dynamic, inclusive society and an innovative economy resilient to Russian threats. Other countries wishing to contribute to this effort to support the long-term reconstruction and recovery of Ukraine may join this Joint Declaration at any time.
