Italian Prime Minister Giorgia Maloni announced the holding of the "Conference on the Restoration of Ukraine". It will be held in Rome on July 10-11, 2025.
Points of attention
- Italian Prime Minister Giorgia Maloney announced the Conference on the Restoration of Ukraine to take place in Rome on July 10-11, 2025.
- Ukraine is receiving substantial support from various countries and international organizations to rebuild its economy after the Russian invasion, with economic losses estimated in billions of dollars.
- The total cost of reconstruction and recovery of Ukraine has been increased to $486 billion over the next decade, with significant damages reported in sectors like housing, transport, trade, and industry.
- Various entities, including the World Bank, the European Commission, and the United Nations, are actively involved in estimating and planning for the reconstruction efforts in Ukraine.
- The upcoming conference aims to gather key stakeholders and partners to support Ukraine's journey towards recovery, emphasizing the importance of international collaboration and solidarity in such endeavors.
Maloney announced the date of the conference on the restoration of Ukraine
Maloney said that Ukraine will not be alone in its recovery efforts.
We will be by her side as long as it takes.
Georgia Maloney
Prime Minister of Italy
Striving for a future of peace and prosperity also means striving for recovery, and I am happy to announce that the conference will be held in Rome: it is an event we care deeply about and have been working on for some time, Meloni emphasized after meeting with Ukrainian President Volodymyr Zelensky.
Restoration of Ukraine: what is known
According to the Kyiv School of Economics, since the beginning of Russia's full-scale invasion of Ukraine, the amount of indirect losses for Ukraine is estimated at 1.164 trillion dollars, including 385.7 billion dollars of current and projected losses of revenue and added value.
The service, trade, industry, and construction sectors experienced the greatest losses.
On September 30, a meeting in the G7+Ukraine format was held in New York, during which more than 30 countries and the European Union adopted a Joint Declaration on support for the restoration and reconstruction of Ukraine.
The World Bank, the European Commission and the United Nations have increased their estimates of the total cost of reconstruction and recovery of Ukraine to $486 billion over the next decade. Previously, the cost was estimated at 411 billion dollars.
According to the report, two years after the start of the war, as of December 31, 2023, direct losses reached almost $152 billion (the previous estimate was $138 billion). At the same time, the housing sector, transport, trade and industry, agriculture and energy were the most affected. Damages, as before, were concentrated in Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson and Kyiv regions.
Disruption of economic flows and production, as well as additional costs associated with the war, are estimated as economic losses in aggregate and amount to 499 billion dollars.
About 5% of the total losses are caused by the environment, which is largely related to the breakthrough of the Kakhovka dam and the inclusion of new types of losses (such as the assessment of losses of ecosystem services). In the banking and financial sector, the volume of loans is estimated at 5.7 billion dollars.
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