G-8 Global Partnership Against the Spread of Weapons and Materials of Mass Destruction: President Bush and his G-8 colleagues agreed today to launch a major new effort to prevent the proliferation of weapons of mass destruction to terrorists or those who support them. Under the ?G-8 Global Partnership Against the Spread of Weapons and Material of Mass Destruction,? the United States, the G-7 and the European Commission have agreed to raise up to $20 billion for projects pertaining to disarmament, nonproliferation, counterterrorism and nuclear safety, over the next ten years. The United States intends to provide half of the total funding.

The focus of the Global Partnership will initially be on projects in Russia. The initiative will also be open to other states, including other former Soviet states. G-8 members have agreed on basic guidelines for implementing the initiative. The G-8 will establish a senior-level mechanism to coordinate Partnership activities, including monitoring progress and considering project priorities and opportunities.

The Global Partnership will initiate new bilateral and multilateral projects, and enhance existing ones. Donor governments may choose a range of financing options, including exchanges of a portion of Russia's Soviet-era debt for Partnership projects. Only funds disbursed after today's announcement will be included in the Partnership. The G-8 has invited others to join in this endeavor.

G-8 Nonproliferation Principles: The President and his G-8 colleagues also today adopted a set of Principles to prevent terrorists or those who harbor them from acquiring or developing nuclear, chemical, radiological and biological weapons, missiles, and related materials, equipment and technology. The G-8 Leaders call on all states to commit to these Principles.

U.S. Nonproliferation Assistance: The G-8 Global Partnership builds on, and expands, a decade of cooperation between the United States and former Soviet states to reduce and prevent the proliferation of weapons of mass destruction, starting with the Cooperative Threat Reduction (Nunn-Lugar) program in FY1992. From FY1992 to FY2002, the United States allocated approximately $7 billion for this purpose. In the President's FY2003 budget request, he has proposed about $1 billion in nonproliferation and, threat reduction assistance to former Soviet states ? the highest single-year request ever made for these projects.

Key ongoing U.S. nonproliferation and threat reduction projects in Russia and other former Soviet states, including Ukraine, Kazakhstan and Uzbekistan, will be enhanced under the Global Partnership. These include: