An international conference to support Ukraine after the disastrous Russian invasion laid out a set of principles to guide Kiev’s recovery and condemned Moscow’s actions.
Representatives from more than 40 countries and international organizations, such as the European Investment Bank and the Organization for Economic Co-operation and Development (OECD), signed the Lugano Declaration during the two-day conference held in Switzerland.
The signatories, which include the US, Britain, France and Japan, condemned Russia’s military offensive “in the strongest terms” and called on Moscow to withdraw its troops without delay.
The signatories welcomed pledges to provide political, financial and technical support and unveiled the Lugano Authority to lead the reconstruction effort, which Kyiv has said could cost up to $750 billion.
The principles include cooperation between Ukraine and its international backers and a focus on domestic reforms.
The European Union has said Kyiv still needs to make progress in areas such as the rule of law, reining in oligarchs, fighting corruption and ensuring fundamental rights.
Transparency, accountability and respect for the law are also included in the principles, which emphasize democratic participation and the involvement of the entire Ukrainian society in reconstruction.
These principles also include multi-stakeholder engagement, gender equality, inclusiveness and sustainability.
“Effective and transparent governance by Ukraine and effective and flexible coordination between donors and with the government are critical to recovery,” Alfred Kammer, director of the International Monetary Fund’s European directorate, told the conference.
“Ukraine’s implementation of institution-strengthening reforms and public policy will support the transformation of society and increase the growth and living standards of the Ukrainian people,” Kamer added.
Source: RES-MPE
Source: Capital
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