News from the Ministry of Foreign Affairs of Denmark

Joint Statement on Arctic Council Cooperation following Russia’s Invasion of Ukraine

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Canada, the Kingdom of Denmark, Finland, Iceland, Norway, Sweden, and the United States condemn Russia’s unprovoked invasion of Ukraine and note the grave impediments to international cooperation, including in the Arctic, that Russia’s actions have caused.

We remain convinced of the enduring value of the Arctic Council for circumpolar cooperation and reiterate our support for this institution and its work. We hold a responsibility to the people of the Arctic, including the indigenous peoples, who contribute to and benefit from the important work undertaken in the Council.

The core principles of sovereignty and territorial integrity, based on international law, have long underpinned the work of the Arctic Council, a forum which Russia currently chairs.  In light of Russia’s flagrant violation of these principles, our representatives will not travel to Russia for meetings of the Arctic Council. Additionally, our states are temporarily pausing participation in all meetings of the Council and its subsidiary bodies, pending consideration of the necessary modalities that can allow us to continue the Council’s important work in view of the current circumstances.

For press information, please contact pressevagten@um.dk

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News from the Ministry of Foreign Affairs of Denmark
News from the Ministry of Foreign Affairs of Denmark
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Shareholder Statement on the MDB Callable Capital Exercise16.4.2024 15:51:06 CEST | News

Issued by: United States, Japan, Germany, France, United Kingdom, Italy, India, Republic of Korea, Spain, Australia, Netherlands, Switzerland, Belgium, Denmark, and New Zealand The G20 Independent Review of Multilateral Development Banks’ (MDB) Capital Adequacy Frameworks (G20 CAF Review) provided thoughtful recommendations for boosting MDB financial capacity by stretching existing resources and pursuing innovative measures. The G20 Presidencies of Italy, Indonesia, and India were all key to launching and driving forward the G20 CAF Review. The implementation of several of its recommendations by the MDBs has already generated significant additional MDB financing capacity. In a strong demonstration of our support for the MDBs[1], shareholders have collectively committed a combined $796 billion in callable capital to these institutions, which can be drawn on or “called” in the extremely remote scenario that an MDB is unable to meet its financial obligations. In the 80 years since the Bre

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