KOENIGSWINTER, Germany: Group of Seven financial leaders are likely to agree on Thursday and Friday to help Ukraine pay its bills in coming months, but surging inflation, climate change, supply chains and the impending food crisis are also on the agenda.
"I am quite optimistic that we will be able at this G7 meeting to rise the funding which would allow Ukraine to defend itself over the next months," he said. "Ukraine is overshadowing these meetings. But there are other issues that must be discussed," a G7 official, who asked not to be named, said, adding that debt, international taxation, climate change and global health were all up for debate.
The European Commission offered on Wednesday to provide up to €9 billion in loans to Ukraine, financed from EU borrowing guaranteed by EU governments, to cover Kyiv's needs until the end of June. Some economists estimate such a project would require between €500 billion and €2 trillion, with estimates frequently changing depending on the length of the conflict and the scope of destruction.