Italy participated in the signing ceremony for the European Flagship Fund at the Ukraine Recovery Conference in Gdansk

The signing ceremony for the European Flagship Fund for Ukraine's recovery and reconstruction was held at the Amber Expo in Gdansk, as part of the Ukraine Recovery Conference. This is the most ambitious private equity instrument promoted by the EU Commission, Italy, and the other three Member States (France, Germany, and Poland), in which their respective development banks (CDP for Italy) participate.

With its presence at the ceremony in Gdansk, Italy confirmed its key role as co-founder of the fund, contributing €15 million from Development Cooperation funds. Announced at the previous Conference held in Rome in July 2025, the instrument has an initial endowment of €220 million and can mobilize investment of up to €1.5-2 billion. With war damage estimated at nearly €600 billion according to the World Bank, the private sector is set to play an increasingly crucial role in the country's recovery. The fund will be operational in the second half of the year with initial investment in key sectors, including energy, infrastructure, and housing.

The ceremony was attended by Commissioner for Enlargement Marta Kos; European Investment Bank Vice-President Karl Nehammer; Polish Finance Minister Andrzej Domański; Ukrainian Finance Minister Oleksii Sobolev; German State Secretary for Economic Cooperation Niels Annen; and French Minister Delegate for Foreign Trade Nicolas Forissier. Davide La Cecilia, Special Envoy of the Foreign Ministry for Ukraine's Recovery and the Reconstruction, represented Italy and emphasized that today's signing places Italy among the leading founding countries of an innovative and effective instrument for companies intending to seize the opportunities provided by Ukrainian reconstruction in the context of its process of accession to the European Union.