G-7 finance chiefs boost Ukraine aid, propose supply chain plan

Ignazio Visco, governor of the Bank of Italy, seated front row from right, Francois Villeroy de Galhau, governor of the Bank of France, Tiff Macklem, governor of the Bank of Canada, and Christine Lagarde, president of the European Central Bank (ECB), ahead of the central bank session of the Group of Seven (G-7) finance ministers and central bank governors meeting in Niigata, Japan, on Saturday. (Photo: Bloomberg)

NIIGATA: Group of Seven (G-7) finance chiefs put more aid on the table for Ukraine, set up a new supply chain initiative and vowed to fill regulatory gaps in the banking sector in a show of unity on global geo-economic issues after three days of talks.

“We call for an immediate end of Russia’s illegal war against Ukraine, which would clear one of the biggest uncertainties over the global economic outlook,” they said in a statement following their gathering in Niigata, Japan.