Canada's Initiative: Building Ukraine's Pension System

Canada is exploring the possibility of assisting Ukraine in constructing a pension system similar to its own. This proposal was discussed by Canadian Finance Minister François-Philippe Champagne and Ukrainian Finance Minister Sergii Marchenko at the G7 meetings. Support for Ukraine's reconstruction and fostering private investment also featured prominently in their discussions.

Canada is contemplating aiding Ukraine in developing a pension system akin to its own, Finance Minister François-Philippe Champagne revealed at a press conference alongside Ukrainian Finance Minister Sergii Marchenko. Together, they met with various pension funds and key investors to deliberate on potential collaborative efforts to rebuild Ukraine.

Champagne emphasized Canada's commitment to Ukraine's reconstruction, citing significant meetings with major Canadian pension funds. As the host of this year's G7 meetings, Canada is reiterating its support for Ukraine, particularly since the onset of the war in 2022.

The G7 meeting in Canada aims to brainstorm mobilizing private investments necessary for Ukraine's reconstruction, which is estimated at over $500 billion. While a ceasefire was discussed between U.S. President Trump and Russian President Putin, the Kremlin suggests negotiations will be prolonged.

(With inputs from agencies.)