Over 40 countries sign final declaration of Ukraine Recovery Conference in Lugano

MOSCOW. July 5 (Interfax) - Representatives of 42 countries have signed the final declaration of the Ukraine Recovery Conference in Switzerland's Lugano.

The signatories reiterated their full support for the sovereignty and territorial integrity of Ukraine within its internationally recognized borders.

The countries recognized a Ukraine-led draft of the Recovery and Development Plan as an overarching framework guiding the recovery process, allowing for coordinated multi-stakeholder participation and partnerships.

The participants supported the establishment of an effective coordination platform between the Ukrainian government and all of its bilateral and multilateral partners, organizations and international financial institutions for the preparation and implementation of Ukraine's Recovery and Development Plan.

The signatories stressed the importance of fair and transparent development of finance, lending and borrowing practices in accordance with international rules, standards and recognized principles in the process of Ukraine's recovery.

Ukrainian Prime Minister Denys Shmyhal said on Monday that the Ukraine recovery plan was estimated at $750 billion.

Speaking at the Lugano conference, Shmyhal insisted that assets confiscated from Russia and Russian oligarchs should serve as a key source of Ukraine's recovery.

Among other sources, he also mentioned international grants, easy loans by international financial institutions, private investments, and extra-budgetary contributions by private individuals and corporations.

The Ukrainian budget will also be among the sources of the country's recovery, Shmyhal said.