Over seventy governments are participating in the Rome Conference for Ukraine’s recovery where very significant decisions have already been made, including the creation of a European fund for Ukraine’s recovery, as well as support for the country with €10 billion. In his intervention, Ukrainian President Volodymyr Zelensky called for “a kind of new Marshall Plan to be approved, which years ago allowed Europe to rebuild.”
“We will welcome all those who will support us and will not allow Russia to continue the war,” he characteristically emphasized. “Russia does not want peace and it is clear that it rejects any peace proposal, everyone can see that,” he said characteristically.
Italian Prime Minister Giorgia Meloni, for her part, emphasized that today’s conference will secure over ten billion euros for supporting Kyiv. “So that this country can emerge from darkness, as it deserves, and build a strong future, a future worthy of the dignity that characterizes it,” the Italian Prime Minister emphasized.
London will sign agreement for missile supply for anti-missile defense systems in Ukraine
For her part, British Deputy Prime Minister Angela Rayner will sign an agreement later today for supplying Ukraine with more than 5,000 missiles for anti-missile defense systems manufactured at a Thales factory – an agreement that was announced by London a few months ago. Rayner is expected to sign the agreement in Rome. The agreement was first announced by Prime Minister Keir Starmer on March 2. The British government also confirmed it will provide up to £283 million in aid to Ukraine by 2026.
EU promises €2.3 billion – Merz expresses his support
The European Union will allocate €2.3 billion for Ukraine’s reconstruction, creating, among other things, a special fund designed to mobilize private capital as well, the European Commission announced today.
“With €2.3 billion in signed agreements, we aim to unlock up to €10 billion in investments for rebuilding homes, reopening hospitals, recovering businesses and securing energy,” said European Commission President Ursula von der Leyen, according to an announcement.
The EU also plans to create a “European flagship fund for Ukraine’s reconstruction,” with initial capital of €220 million, to attract private investments.
It will be “the largest investment fund globally,” von der Leyen assured in her speech in Rome during the Conference for Ukraine’s Recovery.
This fund , which is intended for investments in energy or transport, aspires to mobilize up to €500 million by next year, according to the European Commission.
The €2.3 billion package includes loan guarantees worth €1.8 billion and over €500 million in grants.
The EU is “Ukraine’s main financier, having already provided aid worth nearly €165 billion” after Russia’s invasion in February 2022, von der Leyen reminded.
German Chancellor Friedrich Merz welcomed the European fund aimed at attracting private investments for Ukraine’s reconstruction.
“The enormous cost of reconstruction cannot be financed only with public money,” Merz emphasized at the start of the two-day conference.
That’s why Germany, France, Italy and Poland, as well as the European Investment Bank and the European Commission are establishing the European Fund for Ukraine’s Reconstruction, the German leader said.
“I fully support the goal of mobilizing large volumes of private investment for Ukraine’s reconstruction,” Merz stated.
Zelensky calls for further defense investments
Ukrainian President Volodymyr Zelensky for his part called on his supporters to invest more in defense.
In his speech delivered today at the Rome conference, Zelensky also accused his Russian counterpart Vladimir Putin of wanting to destroy “the very essence of life,” as the number of civilians killed in June in Ukraine reached a three-year monthly record, according to a UN mission.
“Ukrainians now face attacks from hundreds of drones every night. It is pure terrorism,” Zelensky denounced.
