Von der Leyen announces launch of European fund for Ukraine's reconstruction

The European Flagship Fund for the Reconstruction of Ukraine officially begins its work today.

European Commission President Ursula von der Leyen announced this in her address at the Ukraine Recovery Conference in Rome on Thursday, according to an Ukrinform correspondent.

"I am particularly pleased to announce today the European Flagship Fund for the Reconstruction of Ukraine, the largest equity fund globally to support reconstruction," von der Leyen said.

She added that the fund would kickstart investment in energy, transport, critical raw materials and dual-use industries.

"We are literally taking a stake in Ukraine's future by leveraging public money to bring large-scale private sector investments and to help rebuild the country," von der Leyen said.

She said that Italy, Germany, France, Poland, and the European Investment Bank are already engaged in the Fund's work, and expressed confidence that other EU countries will also join in the future.

"The time to invest [in Ukraine] is now," von der Leyen said.

The fourth Ukraine Recovery Conference (URC2025) kicked off today in the Italian capital, Rome, gathering around 5,000 participants. Co-organized by the governments of Ukraine and Italy, the event brings together nearly 100 governmental delegations and 40 delegations from international organizations, including financial institutions. A wide range of events are planned on the conference sidelines, involving politicians, representatives of around 2,000 businesses, local authorities, and civil society.

The URC has been held annually since 2022, with previous conferences taking place in Lugano, London, and Berlin. It is regarded as the most significant international event dedicated to the recovery, reconstruction, and modernization of Ukraine.

Photo: World Economic Forum / Boris Baldinger