European Leaders Urge Immediate Private Investment for Ukraine’s Reconstruction at Rome Summit

ROME – European leaders convened Thursday in Rome, urging private businesses and equity funds to immediately invest in rebuilding Ukraine, even as Russia intensifies its war. The annual Ukraine Recovery Conference, co-hosted by Italian Premier Giorgia Meloni and Ukrainian President Volodymyr Zelenskyy, aims to unlock over 10 billion euros (approximately $12 billion) in investments, amidst ongoing uncertainties regarding U.S. defense commitments to Kyiv.

Opening the proceedings, Meloni emphasized, “The reconstruction of Ukraine is not a risk. It’s an investment in a nation that has shown more resilience than any other.” Zelenskyy echoed this sentiment, stressing that only “true partners” would be welcomed in the rebuilding efforts and reiterated calls for Russia’s frozen assets to be used for reconstruction.

The European Commission announced the creation of the European Flagship Fund for the Reconstruction of Ukraine, the largest equity fund to date for the purpose. With 100 official delegations, 40 international organizations, and 2,000 businesses attending, the conference features practical workshops on de-risking investments and panel discussions focusing on specific sectors like energy, mining, and defense industries.

The urgency of the conference is underscored by Russia’s recent heavy missile and drone attacks on Kyiv. The World Bank Group, European Commission, and United Nations estimate Ukraine’s recovery cost to exceed $524 billion over the next decade. German Chancellor Friedrich Merz made an impassioned plea to Washington, urging continued U.S. support for Europe and Ukraine, as questions linger over the Trump administration’s commitment to Kyiv’s defense.

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