ROME As concerns about the U.S. commitment to Kyiv’s defense mount, Italy is organizing the fourth annual conference on the topic, inviting corporate and political leaders to Rome to encourage public-private cooperation on defense, mining, energy, and other sectors as Russia intensifies its conflict.
and Ukrainian were kicking off the summit Thursday, which began as Russia intensified its drone and missile bombardment on Kyiv for yet another night.
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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 two were held in Berlin last year and in 2022. Business, human capital, local and regional issues, and the required changes for EU accession are the four key pillars that have been developed and are still 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. These include nations that are prepared to send troops to Ukraine in order to monitor any relations with Russia.
Zelenskyy met with the retired Lt. Gen., who served as President Donald Trump’s special envoy to Russia and Ukraine, while he was in Rome on Wednesday. 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 a reference to a bill that calls for a 500% tax on items imported from nations that still purchase Russian oil. The bill is being sponsored by both a Republican and a Democratic senator who are now in Rome. 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 continued operation depends on U.S. backup with airpower or other military assistance. Even the United States’ present military assistance to Ukraine is under scrutiny.
Amidst doubts about the U.S. administration’s commitment to Ukraine’s security, Trump declared on Monday that the United States would have to travel to Ukraine, only days after Washington visited Kyiv. 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.
