Hello everyone,
I am taking advantage of this almost finishing the first day of the Leader Summit of the G7 under the Italian Presidency to share some important news with you. Today, there were four working sessions, the first dedicated to Africa, the second to the crisis in the Middle East, and the two following sessions focusing on Ukraine. An additional event on the Partnership for Global Infrastructure and Investment was added to the agenda, highlighting one of the major projects within the G7 framework for the development and growth of fragile nations, particularly in Africa and Asia. I am very pleased with the discussions and the results achieved today, especially in terms of supporting Ukraine.
It has been 841 days since the beginning of the Russian aggression against Ukraine. Throughout this long period, the heroic resistance of the Ukrainians has thwarted Putin’s plans, and the unity and determination of the West have provided the necessary aid to defend the nation’s freedom. The G7 has reiterated its commitment to this cause, and I am pleased to announce that we have reached a political agreement to provide additional financial support to Ukraine of approximately $50 billion by the end of the year. This support will be facilitated through a loan mechanism, utilizing the extra profits from Russian assets frozen in our jurisdictions. It is essential to note that this is not about confiscation, but rather the accrued interest over time. Today marks a significant political milestone that will now need to be technically defined with the existing EU framework, but it is a remarkable outcome of which I am particularly proud.
We also addressed the conflict in the Middle East, where we unanimously supported the US mediation proposal for an immediate ceasefire in Gaza, the release of all hostages, and a substantial increase in humanitarian assistance to the civilian population in Gaza. The G7 reaffirmed its efforts to prevent escalation in the region and seek a lasting political solution to the crisis, with the perspective of the two-state resolution. Additionally, we focused on Africa, a topic of special interest to the Italian Presidency, which will continue to be discussed tomorrow, both in the migration session and the outreach session involving other nations.
I have received wide support and endorsement from my colleagues for the Mattei Plan for Africa, reflecting Italy’s cooperation approach with African nations, which has already yielded positive results with the initiation of pilot projects. This advancement aims to integrate various national and multilateral initiatives, such as the Mattei Plan, strategic initiatives of the G7 and the EU, including the PGII and the Global Gateway, to streamline interventions and coordinate actions more effectively. Italy has also committed to supporting a key project under the PGII, the Lobito Corridor, a significant infrastructure system connecting Angola to Zambia through the DRC, facilitating regional and global market connections. Moreover, I am pleased to announce the establishment of new financial instruments at the African Development Bank to develop co-investment strategies in line with the Mattei Plan, as well as a framework agreement with the World Bank to facilitate our investments on the continent.
I want to express my gratitude to the United Arab Emirates for their initial contribution to the multidonor fund. The side event on the PGII with private sector participation and multilateral development banks demonstrates our commitment to translating our promises into concrete actions. We aim for tangible outcomes from this G7, not just documents, and today’s parachute display by the Follgore Parachute Brigade was truly an impressive addition to the activities. The day will conclude with a dinner at the Castle of Brindisi, hosted by President Sergio Mattarella, whom I also want to thank in advance.
Tomorrow promises to be another important day, perhaps even historic. We will welcome the Holy Father, as announced previously, marking the first time a Pope participates in the G7 proceedings. Our discussions will cover topics such as artificial intelligence, the Indo-Pacific, economic security, resilient supply chains, and revisit Africa and the Mediterranean regions. The evening will see the approval of the Summit’s conclusions, which already enjoy the leaders’ consensus. I thought it was important to recap the highlights of this first day, and we will meet again tomorrow and especially at the Saturday press conference. Thank you, enjoy the evening, and I hope you have had a great day.
