Department of Finance Canada reported that G7 Finance Ministers and Central Bank Governors concluded their meeting in Banff, Alberta and agreed a communiqué setting out joint priorities, including work on the global economy, unsustainable global imbalances, and measures to promote growth and productivity. The communiqué includes agreement on a G7 Financial Crime Call to Action to drive further progress against money laundering and terrorist financing, with Canada providing CAD 4.8 million in new technical assistance to developing economies. Members also backed expanding the World Bank-led Resilient and Inclusive Supply-Chain Enhancement (RISE) Partnership to strengthen developing countries’ integration into critical minerals supply chains, supported by a Canadian contribution of CAD 20 million, including for activity in Latin America and the Caribbean. Other agreed areas include addressing risks from the sharp increase in low-value shipments into G7 markets and maintaining support for Ukraine, including exploring options to hold Russia to account such as further ramping up sanctions and encouraging private sector participation in Ukraine’s recovery and reconstruction. The Banff discussions were framed as input ahead of the G7 Leaders’ Summit in June in Kananaskis, Alberta, during Canada’s 2025 G7 Presidency.
Department of Finance (Canada) 2025-05-22
Department of Finance Canada outlines G7 Banff communiqué including Financial Crime Call to Action and Canadian contributions of CAD 4.8 million and CAD 20 million
G7 Finance Ministers and Central Bank Governors concluded their meeting in Banff, Alberta, agreeing on joint priorities including global economic growth, financial crime prevention, and support for Ukraine. Canada committed CAD 4.8 million for anti-money laundering efforts and CAD 20 million to the RISE Partnership for critical minerals supply chains. The discussions serve as input for the upcoming G7 Leaders’ Summit in Kananaskis, Alberta.