The fourth annual conference on rebuilding Ukraine is being held in Rome, Italy.As concerns about the U.S. commitment to Kyiv’s defense increase, political and corporate officials are being invited to Rome to discuss public-private partnerships on defense, mining, energy, and other sectors, even as Russia intensifies its attack.
The conference was opened Thursday by Ukrainian President Volodymyr Zelenskyy and Premier Giorgia Melonia. Russia intensified its ground and aerial attacks against Ukraine with another night of hammering missile and drone attacks on Kyiv.
According to the Italian organizers, 40 foreign organizations and development banks were among the 100 formal delegations in attendance. However, 2,000 companies, civil society organizations, and local Ukrainian governments are also sending delegates. On the grounds of the ministerial-level meeting in Rome’s hip new Cloud convention facility in the EUR zone, which was built during the Fascist era, they are taking part in a trade show, complete with booths.
Investors and Ukrainian peers will be paired at the meeting.
In order to not only rebuild Ukraine during and after the war, but also modernize it and assist it in achieving the reforms required for entry into the European Union, the conference aims to pair foreign investors with Ukrainian counterparts to meet, discuss, and work out cooperative partnerships.
Starting to talk about reconstruction during a time of ongoing conflict and almost constant attacks on civilians may seem a little contradictory, but it’s not. Eleonora Tafuro Ambrosetti, a senior research fellow at the Institute for Studies of International Politics, or ISPI, in Rome, stated that it is truly an urgent need.
This is the fourth such recovery gathering.
This is the fourth such conference on Ukraine’s recovery; the first three were held in Berlin last year, Lugano, Switzerland in 2022, and London in 2023. The four primary pillars that the Berlin conference established—business, human capital, local and regional issues, and the changes required for EU admission—remain in place in Rome.
Since public funds are clearly insufficient to carry out this massive endeavor of national restructuring, it is essentially a platform where numerous businesses, both European and Ukrainian, come together and network, allowing you to witness this public-private partnership in action, Ambrosetti explained.
Ukraine’s rehabilitation from nearly three years of war is expected to cost $524 billion (506 billion) over the next ten years, according to estimates from the World Bank Group, European Commission, and United Nations.
Ukraine’s partners are concentrating on industry and challenges this time.
According to Ukrainian-British businessman Alexander Temerko, the Rome conference differs from its predecessors in that it is concentrated on particular businesses and concerns rather than merely discussing the need for reconstruction in general terms. The program features panel discussions on investing in Ukraine’s rare earth minerals, pharmaceutical, and local defense industries, as well as hands-on seminars on subjects including de-risking investments.
According to him, this is the first conference that is specifically looking at projects that need to be repaired in Ukraine, especially during the war, in the areas of energy, mining, metallurgy, infrastructure, and transportation. That is this conference’s unique characteristic.
If Meloni supports a coordinating body to provide follow-up that would give concentrated political leadership behind Ukraine’s recovery, the conference might be successful, according to Kurt Volker, the former U.S. special envoy for Ukraine negotiations.
Double-digit economic growth is anticipated in Ukraine in the event of a sustainable peace. However, Volker stated for the Center for European Policy Analysis that there is still a lack of a high-level focus on economic development.
Meloni and Zelenskyy will be joined by European Commissioner Ursula von der Leyen, German Chancellor Friedrich Merz, Polish Prime Minister Donald Tusk, Dutch Prime Minister Dick Schoof, and other European foreign and/or economic ministers.
Prime Minister Keir Starmer and French President Emmanuel Macron stayed in Britain, but they will join a videoconference session of the coalition of the willing on Thursday along with a number of other attendees from the Rome conference. Among them are nations prepared to send soldiers to Ukraine in order to monitor any eventual peace accord with Russia.
President Donald Trump’s special envoy to Russia and Ukraine, retired Lt. Gen. Keith Kellogg, met with Zelenskyy on Wednesday when he was in Rome. In a statement posted on Telegram on Wednesday, Ukrainian Foreign Minister Andrii Sybiha said Zelenskyy, who also met with Pope Leo XIV, has scheduled meetings with other U.S. officials to discuss the anticipated passage of a new set of U.S. sanctions.
It was an allusion to a bill that is being supported in Rome by Senators Lindsey Graham, a Republican, and Richard Blumenthal, a Democrat. The bill calls for a 500% tariff on items imported from nations that still purchase Russian oil. China and India, two powerful economies that purchase Russian oil, would be greatly affected by the action.
Don’t stand by and watch as Russia terrorizes Ukrainians. Defund Russia’s war machine immediately, Sybiha wrote.
The success of the coalition depends on US support.
Although the Trump administration has not publicly committed to providing support, the coalition of the willing’s future operation depends on U.S. airpower or other military aid. Even the United States’ present military assistance to Ukraine is under scrutiny.
Days after Washington halted vital arms delivery to Kyiv due to doubts about the U.S. administration’s commitment to Ukraine’s defense, Trump stated on Monday that the United States will need to supply more weaponry to Ukraine. According to three people familiar with the situation, Trump made his decision after privately criticizing Pentagon officials for declaring a halt in some supplies last week, a move he believed was improperly coordinated with the White House.
