Reconstruction summit: 10 billion for Ukraine – hope in Rome!

Reconstruction summit: 10 billion for Ukraine – hope in Rome!

The international community opened the annual conference on the reconstruction of Ukraine on October 10, 2025 in Rome. This event takes place under the patronage of Italian Prime Minister Giorgia Meloni and Ukrainian President Volodymyr Zelensky and aims to support the reconstruction of Ukraine attacked by Russia. The conference, described as the fourth of its kind, attracts around 3,500 participants, including senior political officials such as European Commission President Ursula von der Leyen and US special envoy to Ukraine and Russia Keith Kellogg.

The timing of the conference is particularly critical. Just a day before the summit, Russia has stepped up its attacks on Ukraine, underscoring the urgency of reconstruction discussions. The conference aims to mobilize more than 10 billion euros in investments to support Ukraine's reconstruction and recovery from the devastating effects of war.

New equity fund launched

Particularly noteworthy is the announcement of a new equity fund launched by the Federal Ministry for Economic Cooperation and Development (BMZ) in Germany through KfW Bank. The fund aims to mobilize around one billion euros in private capital for reconstruction in strategic sectors such as energy infrastructure, wind and solar power and digital infrastructure. According to World Bank estimates, Ukraine's reconstruction costs will be about $524 billion over the next 10 years.

The consortium supporting this fund consists of the governments of Germany, Italy, Poland and France, the European Commission and the European Investment Bank (EIB). This interaction is intended to ensure that private investors are encouraged to invest in reconstruction through an initial loss tranche of up to 220 million euros. The fund has a planned target size of 500 million euros by 2026, with a possible increase to one billion euros by 2027/2028, subject to an improved security situation.

Investments and risk reduction

KfW will have a significant stake in this fund and has presented specific figures to support the risks of private investors. This includes, among others, 15 million euros from each of Germany, Italy, France and Poland, 100 million euros from the EIB and 60 million euros from EU grants. The aim is to increase the total amount of investments made possible by this fund to six to seven billion euros.

The negotiations and presentations at the conference are accompanied by the ongoing fighting in Ukraine and the stagnating diplomatic efforts for peace. These circumstances make the desire for rapid and comprehensive reconstruction all the more urgent. The first investments from the new fund could take place as early as the second half of 2026, giving those present in Rome a glimmer of hope for Ukraine's future. The reconstruction should not only repair material damage, but also improve the living conditions of Ukrainian citizens during this difficult time.