40 countries sign the Lugano Declaration in support of Ukraine

40 countries sign the Lugano Declaration in support of the ‘great’ reconstruction of Ukraine

The Lugano declaration will be the first step of many conferences on Ukraine’s reconstruction scheduled to take place in the coming months.

Ukrainian Prime Minister Denys Shmyhal: Reconstruction could cost $750 billion To pay for the money, Shmyhal proposed taking Russian assets frozen abroad, which are now between $300 billion and $500 billion.

Ukraine and its allies agreed on principles for its reconstruction, such as increased transparency and the elimination of corruption.

On July 5, after a two-day meeting in the Swiss city of Lugano, the leaders of about 40 countries signed the Lugano Declaration in support of Ukraine’s long and costly reconstruction.

Speaking in Kiev, President Volodymyr Zelensky said that rebuilding Ukraine was a “great” work and the task of “the whole democratic world”.

Leading the Ukrainian delegation in Lugano, Ukrainian Prime Minister Denys Shmyhal, said the Lugano declaration and the reconstruction principles achieved at the meeting had sown “great hope”.

“We will win, we will renew our country. We will rebuild everything that has been destroyed even better than before,” Shmyhal said.