Munich: German Chancellor Olaf Scholz announced in a wrap-up to the Group of Seven summit of advanced economies that the leaders had agreed to draw up a “Marshall plan” for Ukraine.
“We have been talking about long-term reconstruction, for which there is money that has to be mobilized… We need a ‘Marshall plan’ for Ukraine that must be properly outlined and developed. We plan to do it,” he said, referring to a 1948 US program to finance its allies.
Scholz told a press conference that the conflict in Ukraine had dominated the leaders’ talks at Schloss Elmau in Bavaria. He confirmed that sanctions imposed on Russia would remain in place until it reached an “honest agreement” with Ukraine.
The Western allies are trying to convince other countries to align with the sanctions, including China, Scholz said.
“We expect that the sanctions on Russia that we agreed to put in place together with other countries will not be undermined. We insist on this in all negotiations, and we agreed here that we will continue doing it together,” he told reporters.
The G7 leaders confirmed that they would attend the summit of the Group of Twenty major developed and emerging economies on the Indonesian island of Bali in mid-November.
“There was a significant convergence of opinions on that we do not want G20 to be disbanded. So, the countries that assembled here have decided that we will go there,” Scholz said.
Indonesian President President Joko Widodo attended the G7 summit together with Argentine, Indian, Senegalese and South African leaders. Widodo has invited Russian President Vladimir Putin to the G20 summit and is due to travel to Moscow on Thursday.