First Results of Ukraine Recovery Conference: 200 Deals Worth €10 Billion Ready for Signing

Europe is betting on Ukraine's future. European Commission President Ursula von der Leyen has announced the creation of a European flagship fund for Ukraine's recovery. It will be created in cooperation with Germany, France, Italy, Poland and the European Investment Bank. The main goal is to attract large-scale investments for the revival of Ukraine. 

The Gaze reports on this with reference to FREEDOM.

An analogue of the Marshall Plan — this is what Ukraine needs, according to President Volodymyr Zelenskyy. Participants at the Ukraine Recovery Conference 2025 in Rome focused on four key areas:

• mobilising the private sector to rebuild economic growth in Ukraine;
• rebuilding human capital for Ukraine's future, social support;
• the specifics of local and regional self-government, the restoration of municipalities and regions;
• reforms aimed at joining the European Union.

For the successful recovery of the state, a systematic approach, an international coalition, the participation of business and, above all, a clear plan are necessary, Volodymyr Zelenskyy noted.

"We need a clear recovery plan. Remember the role the Marshall Plan played in the recovery of Europe — it ensured peace and growth for decades. Now we have a chance to launch a new wave of progress. We need a Marshall Plan-style approach, and we must develop it together... We must clearly agree that frozen Russian assets should go towards the recovery of Ukraine," the Ukrainian head of state emphasised. 

More than 30 countries and 500 companies from Ukraine, Europe and the United States are represented at the conference. According to President Zelenskyy, about 200 agreements worth more than €10 billion are ready to be signed. This is of key importance for Ukraine.  

According to Kyiv's estimates, at least $1 trillion will be needed to rebuild and modernise the country. Ukrainian Prime Minister Denys Shmyhal added that with this amount of funding, the recovery process could take up to 14 years.

"Our concept envisages the creation of two funds totalling $1 trillion. The first is the $540 billion Ukraine Fund, as this is how much the World Bank estimates it will cost to rebuild Ukraine. This fund will be formed from confiscated Russian assets, as well as a special tax on Russian raw material exports. The second fund is the European Structural Fund to support Ukraine, worth $460 billion. It will be a platform for European private sector investment in Ukrainian production," the prime minister explained.

The European Union is aware of the scale of losses incurred by Ukraine due to Russian aggression and is ready to cover a significant part of the funds needed for reconstruction. As European Commission President Ursula von der Leyen said at a conference in Rome, the Global Fund for the Reconstruction and Renovation of Ukraine has been created for this purpose. In addition, she announced new financial aid packages for Kyiv worth €4 billion.

"I am particularly pleased to announce today the launch of the European Flagship Fund for Ukraine's Recovery, the world's largest equity fund to support recovery. Together with the private sector, it will boost investment in energy, transport, critical dual-use raw materials and industry. We are literally betting on Ukraine's future, using public money to attract large-scale private investment and help rebuild the country, and I am particularly pleased to say, from the bottom of my heart, that we are doing this together with Italy, Germany, France, Poland and the European Investment Bank," said Ursula von der Leyen.

And although the European Union is ready to finance Ukraine's recovery from its budget, the leaders of the member states are convinced that the aggressor must pay for the damage caused to Ukraine. Otherwise, frozen Russian state assets will remain frozen. 

"According to our estimates, the material damage amounts to about 500 billion euros. Russia must pay for this damage. Until this happens, Russia must not and will not have access to frozen Russian assets. I would also like to say that the freezing of assets will remain in force," said German Chancellor Friedrich Merz.  

In turn, Polish Prime Minister Donald Tusk stressed that Ukraine's victory is a matter of security for the whole of Europe. 

"We are gathered here to discuss how to help Ukraine not only survive, but also win and rise again. Not only in material terms, but also in spiritual and social terms, Ukraine's victory is a matter of security for the whole of Europe, and victory means territorial integrity, sovereignty and, simply put, a just and lasting peace," Tusk said. 

The Fourth Conference on the Reconstruction of Ukraine brought together about 5,000 participants. According to the event's website, about 100 official delegations and 40 delegations from international organisations, including financial institutions, are participating. Similar conferences have been held since 2022. Previously, they took place in Lugano, London and Berlin.

As The Gaze reported earlier, a conference dedicated to the reconstruction of Ukraine began in Rome on 10 July. It will last until 11 July, with more than 4,000 representatives of governments, businesses and civil society participating.