Ukrainian President Volodymyr Zelenskyy is heading to Rome this week, where he will open a conference on Ukraine's reconstruction alongside Italian Prime Minister Giorgia Meloni. This is an annual event since Russia's invasion of Ukraine in February 2022, reports AFP, writes UNN.
Details
The Ukraine Recovery Conference will take place in the Italian capital on Thursday and Friday, aiming to mobilize investments, particularly private sector funds, for our nation, which is enduring its fourth year of a difficult war.
The meeting, which will also be attended by EU head Ursula von der Leyen and German Chancellor Friedrich Merz, along with 15 other heads of state and government, will focus on Ukraine's long-term recovery. Ukraine hopes to sign energy agreements, as its energy system has regularly suffered from Russian attacks, as well as cooperation in the defense industry.
Zelenskyy, who will arrive on Wednesday for a meeting with the Italian head of state, President Sergio Mattarella, emphasized that his country's urgent need remains protection against intensified Russian missile and drone attacks.
Ukrainian representatives will have a specific set of tasks focused on immediate defense – the defense of our cities and our communities
The United States, formerly Ukraine's largest sponsor, will be represented by President Donald Trump's envoy for Ukraine and Russia, Keith Kellogg.
Can Europe act without the US?
According to the Kiel Institute's "Ukraine Support Tracker," military, financial, and humanitarian aid from European countries has so far filled the gap left by the withdrawal of US troops.
But whether European countries can maintain this level of support in the long term remains to be seen.
There is an understanding that the war could last a long time
At the same time, according to him, Ukraine faces "how difficult it is to secure support from the EU and, in particular, from the United States."
The World Bank estimates that reconstruction and recovery will cost $524 billion over the next decade, which is approximately 2.8 times Ukraine's estimated nominal GDP for 2024. This recovery will be "difficult to achieve" without private investors, the Italian government stated.
More than 2,000 companies, about 500 of which are Italian, as well as representatives of civil society, are expected to participate in the Rome conference. But convincing investors remains a challenge for Ukraine, as the war continues and negotiations promoted by Washington have not yet yielded any progress.
The recovery of our state is a real, daily process that continues despite constant shelling from Russia. We will present concrete achievements, examples of effective cooperation, and new projects that investors can join today
The Trump administration has adopted a more transactional approach to supporting Ukraine. In April, Washington and Kyiv signed a landmark mineral agreement that provides for the joint development of Ukraine's natural resources, with some revenues going to a joint fund for the war-torn country's recovery.
In addition to investments, the Rome conference will address Ukraine's hopes for EU membership and, after years when many Ukrainians have been called to the front or fled, the issue of human capital.
Ukrainian President Volodymyr Zelenskyy will meet with Italian President Sergio Mattarella on July 9 at the Quirinal Palace. This meeting will take place ahead of the Ukraine Reconstruction Conference in Rome.
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