G7 Summit Backs $50 Billion Loan for Ukraine Amid Political Shifts

The G7 summit commenced with a US proposal to back a $50 billion loan to Ukraine, using frozen Russian assets as collateral. Hosted by Italian Premier Giorgia Meloni, the summit also includes discussions on the Gaza war and AI ethics, with Pope Francis set to address the gathering.

The G7 summit kicked off Thursday with a U.S. proposal to back a $50 billion loan to Ukraine, utilizing frozen Russian assets as collateral, marking a robust show of support for Kyiv amid shifting European political dynamics.

Italian Premier Giorgia Meloni greeted G7 leaders at a luxurious resort in southern Italy, emphasizing a message of dialogue with the global south and unity. She compared the G7 to Puglia's ancient olive trees—symbolic of roots and future growth.

Pope Francis, making history as the first pope to address a G7 summit, will discuss AI ethics on Friday, while also urging peaceful resolutions to the Ukraine and Gaza conflicts. The summit also features African leaders to bolster Meloni's migration and development initiatives.