European leaders urge investment as Italy-Ukraine recovery conference kicks off
The two-day event is expected to finalise individual deals of guarantees and grants to unlock more than €10 billion in investments, Italian PM Giorgia Meloni said.
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00:00European leaders on Thursday urged private businesses and equity to invest in rebuilding Ukraine now as they opened an annual recovery conference on Ukraine in Italy.
00:12Italian Prime Minister Giorgia Meloni and Ukrainian President Volodymyr Zelensky kicked off the proceedings in Rome with announcement of a new equity fund and public-private partnerships.
00:23According to Meloni, the conference is expected to finalize individual deals of guarantees and grants to unlock more than 10 billion euros in investments.
00:34The two-day conference which begins today in Rome, which has been organized both by Italy and Ukraine, is the fourth Ukraine's recovery conference.
00:44The aim of the summit is to continue the global push for investment to support Ukraine's reconstruction three years since Russia's full-scale war of aggression began.
00:56The conference includes a series of high-level political events and panel discussions on how business policy, international cooperation can contribute to a sustainable recovery.
01:06According to the World Bank, the recovery and reconstruction will cost $524 billion over the next 10 years.
01:16Around 3,500 people are taking part in the event.
01:19A significant number of world leaders are also attending, including besides Italy's Prime Minister Giorgia Meloni, Ukrainian President Zelensky, EU Commission President von der Leyen, German Chancellor Metz.
01:30The US is represented by its convoy for Russia and Ukraine, Kellogg.
01:35Now, more than 2,000 companies are also joining the conference, including representatives from civil society.
01:42Now, the timing of the conference is extremely crucial as the fighting continues in Ukraine and the diplomatic efforts to end the conflict remained stalled.
01:53And Ukraine faces the dual challenge of rebuilding its infrastructure while implementing reforms aligned with EU values on its path toward European Union accession.
