Ukraine Reconstruction Conference in Rome: latest developments

The level of participation and international attention is steadily increasing. Anticipation is mounting for the Fourth Ukraine Reconstruction Conference, which will take place tomorrow and the day after in Rome. Over 4,000 participants are expected, along with 100 official delegations, 80 Heads of State and Government (hosted by Italian President Sergio Mattarella), and 40 international organizations. Among the most recent confirmations is Archbishop Paul Richard Gallagher, the Vatican’s Secretary for Relations with States and International Organizations.

Meanwhile, the European Union is reportedly considering the creation of a €100 billion fund to support Ukraine, to be included in the upcoming EU seven-year budget expected in the coming weeks. The launch of such a fund would be music to the ears of Italy, the host country of the Conference. Rome aims to both mobilize private investors to help complete the preconditions for launching a kind of Marshall Plan for Ukraine, and to outperform Berlin, which last year secured €16.5 billion in funding and agreements. The torch will then pass to Poland, which will host the fifth edition of the Conference in 2026.

The damage figures and reconstruction potential

Kyiv, in collaboration with the UN and the World Bank, has assessed the damage inflicted by Russia on Ukraine. Taking into account increased operating costs, service disruptions, and loss of revenue, the overall figure is staggering: $589 billion (as of end-2024). Damages to infrastructure alone in 2024 accounted for $176 billion, with the housing sector being hit hardest ($57 billion), followed by transportation ($36 billion) and energy and extractive industries ($20 billion). Based on these figures, the World Bank estimates that $524 billion in investment will be required over the next 10 years for reconstruction.

Who will participate

Confirmed attendees include Keith Kellogg, envoy to Ukraine for former President Donald Trump, Ukrainian President Volodymyr Zelensky (meeting President Mattarella in Rome today), European Commission President Ursula von der Leyen, European Council President António Costa, European Parliament President Roberta Metsola, German Chancellor Friedrich Merz, Polish Prime Minister Donald Tusk, and Italian Prime Minister Giorgia Meloni. Prime Minister Meloni will open the proceedings, while Deputy Prime Minister and Foreign Minister Antonio Tajani will welcome the delegations.