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G7 summit: Leaders plan Russian asset-backed loan to Kyiv

Deutsche Welle

  13 Jun 2024, 20:06
Photo: Alex Brandon/AP Photo/picture alliance

Leaders of the Group of Seven (G7) nations are in Italy for a three-day summit. Members are thrashing out a $50 billion loan to Ukraine backed by interest from frozen Russian state assets.

Ukraine energy sector to receive $1 billion
Around $1 billion (€926 million) from allies and G7 countries has been pledged to Ukraine to reinvigorate its energy sector, which has been hit by a series of Russian missile attacks, Ukraine's energy ministry said on Thursday.

The assistance will include over €70 million in new grant contributions to the Ukrainian energy support fund, $500 million in fresh funding from the US, €300 million from the European Bank for Reconstruction and Development (EBRD) and $47 million of additional grants from the World Bank and the European Union.

As of May 2024, the Kyiv School of Economics estimated damages to Ukraine's energy sector to have amounted to more than $16.1 billion since the war began in February 2022.

The new financial assistance was agreed during a reconstruction conference in Berlin this week.

Pope Francis to meet leaders on G7 sidelines
The Vatican on Thursday said Pope Francis would be meeting some of the world leaders attending the G7 summit in Italy.

In April the Vatican confirmed that Francis would be attending the summit — the first pope to ever do so — and would participate in a session on Artificial Intelligence, which takes place on Friday.

According to the pontiff's schedule for Thursday, he will be having one-on-one meetings with Ukraine's Volodymyr Zelenskyy, France's Emmanuel Macron, India's Narendra Modi, Brazil's Luiz Inacio Lula da Silva, Canada's Justin Trudeau, Turkey's Recep Tayyip Erdogan, Kenya's William Ruto, Algeria's Abdelmadjid Tebboune, and the head of the International Monetary Fund (IMF), Kristalina Georgieva, among others.

Meloni's office denies reports Italy diluting language about access to abortion
Italy was reportedly attempting to water down a G7 declaration on abortion by removing a reference to "safe and legal" terminations, according to the AFP news agency which cited diplomatic sources.

Prime Minister Giorgia Meloni's office denied media reports that Italy was trying to dilute language about access to abortion in the final communique.

Meloni opposes abortion but has pledged not to alter existing laws and has repeatedly stated that she wants to give women "the right to not have an abortion" and ensure that other options are pointed out to them.

Italian Foreign Minister Antonio Tajani told Sky TG24 on Thursday that it was "premature" to comment as "the different delegations are (still) negotiating".

The final document is not expected to be published until late Friday.

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