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Uniting for Recovery: Highlights from the Ukraine Recovery Conference

URC2025 in Rome turned commitment into action: delivering over €10 billion in EU-backed recovery initiatives and agreements for Ukraine. Raiffeisen advanced its rebuilding efforts as Poland readies for URC2026.

  • By Bohdana Yefremova, Head of GPS Ukraine
  • Market Trends

The fourth Ukraine Recovery Conference (URC2025), a high-profile annual event facilitating Ukraine’s recovery and rebuilding since Russia’s full-scale invasion, took place in Rome, Italy, on July 10–11. The event brought together 8,351 delegates from over 60 countries, including 15 heads of state and government, 40 foreign ministers, nearly 2,000 business representatives, 40 international organizations, and over 1,000 civil society representatives from diverse stakeholder groups, united by a common goal of bolstering Ukraine’s resilience for as long as necessary.

The agenda centered on four main themes:

  • Business dimension – addressing the private sector’s challenges related to security, financing, insurance, regulation, and the labor market.
  • Human dimension – mobilizing human capital and promoting inclusiveness, especially for women and youth, and reintegrating displaced people and veterans.
  • Local and regional dimension – strengthening the role of local and regional actors in recovery, improving access to finance, and building capacity.
  • EU dimension – Ukraine’s reform progress as it relates to economic resilience and the EU accession process.

One of the key messages came from European Commission President Ursula von der Leyen, who announced the creation of a new European Reconstruction Fund for Ukraine, with the support of the European Commission through the European Investment Bank, as well as partner DFIs from France, Germany, Italy and Poland. According to von der Leyen, this will be “the largest equity fund globally to support Reconstruction”, which will kick-start investments in energy, transport, critical raw materials, and dual-use industries. The fund’s initial capital is €220 million, with growth expected to €500 million by 2026 and a long-term ambition of €10 billion.

Another important milestone is the signing of a memorandum between the EU and insurance companies, which should facilitate investment in Ukraine by protecting businesses from war risks.

Furthermore, attention also focused on domestic securities market infrastructure, which is key to building a modern, effective capital market in Ukraine. A group of Ukrainian regulators – the National Securities and Stock Market Commission, the Ministry of Economy, the Ministry of Finance, and the National Bank of Ukraine – and the European Bank for Reconstruction and Development (EBRD) signed a Memorandum of Cooperation to support integrated capital-markets infrastructure in Ukraine.

The memorandum provides for the creation of a vertically integrated market infrastructure covering the entire cycle – from trading and reporting to clearing, settlement, and safekeeping – and includes:

  • Establishment of a single holding company that will unite key market-infrastructure institutions;
  • The state's participation in the new structure at no less than 25%;
  • The attraction of an international strategic investor through a public competition;
  • The Launch of a new stock exchange;
  • Optimization of the management of the National Depository and the Settlement Center.

In addition, more than 200 agreements totaling over €10 billion – covering defense, export support, healthcare, and the reintegration of displaced persons – demonstrated strong international interest.

The Raiffeisen Group, recognized for its long-standing presence and expertise in the Ukrainian market, was well represented at the conference. Led by Valerie Brunner, RBI Board Member responsible for CIB Customer Coverage, the delegation held numerous productive meetings with Ukrainian and international clients, as well as partners in Austria and other markets, underscoring support for initiatives aimed at Ukraine’s recovery. This commitment is further highlighted by the launch of RBI Group’s “Rebuild with Ukraine” strategic initiative, which focuses on building a scalable framework and structured financing solutions that can be implemented across sectors and geographies, and on fostering partnerships and international cooperation to support sustainable economic development. More details can be found on the LinkedIn profiles of the RBI delegation members: Valerie Brunner,  Paul Pasquali,  Harald Kröger,  Barbara Pichler,  Natalyiia Pashchenko,  Anna Derevyanko.

In summary, URC2025 reaffirmed its role as a vital economic platform, demonstrating that even amid the challenges of war, Ukraine remains a land of opportunity, welcoming partners, investment, and innovative ideas. Looking ahead, URC2026 will be hosted by Poland, further solidifying the commitment of neighboring countries to support Ukraine’s recovery and integration into the European community.

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