On 10–11 July 2025, the Ministry of Foreign Affairs’ Ambassador-at-Large for Economic Security, Maija Manika, participated in the Ukraine Recovery Conference (URC) in Rome. The conference serves as a platform that annually brings together representatives from Ukraine’s partner countries, including the G7, international organisations, financial institutions, the business community, and civil society organisations. It provides an opportunity for stakeholders involved in Ukraine’s reconstruction to discuss best practices and challenges, and to forge partnerships for joint and coordinated efforts.
At the conference and during the 14th meeting of the Steering Committee of the Ukraine Donor Platform, held in the lead-up to the event, discussions focused on Ukraine’s immediate needs and priorities, as well as continued support for reconstruction and recovery efforts. The required support was considered from business, humanitarian, regional, and EU perspectives. The Latvian delegation to the conference was led by Minister of Economics Viktors Valainis.
Ahead of the conference, a series of thematic events were held, involving representatives of governments, international organisations, NGOs, and businesses. Additionally, the Embassy of Latvia to Italy hosted an event organised by the OECD, the Secretariat of the Cabinet of Ministers of Ukraine, and the NGO “ISAR Ednannia,” focusing on the importance of cooperation between governments, civil society, and the business sector in developing sustainable policy.
At the Steering Committee meeting, partner countries and international financial institutions reaffirmed their commitment to continued support for reducing Ukraine’s budget deficit, reconstruction efforts, and societal resilience. According to the Ukraine Donor Platform, since the launch of Russia’s full-scale invasion, support from international partners has totalled USD 241.9 billion. Nevertheless, Ukraine’s needs continue to grow due to Russia’s ongoing aggression, particularly in the energy, transport, and housing sectors. The European Union acknowledged Ukraine’s progress on reforms, which is also crucial for improving the business environment and attracting investment.
The conference placed particular emphasis on the importance of private sector engagement in Ukraine’s reconstruction and in addressing its urgent needs. Discussions included mobilising funding, reducing investment risks, developing insurance mechanisms, and improving the business environment. Entrepreneurs involved in various sectors in Ukraine also participated in the conference. Latvia was represented by SIA “Eco Baltia Vide” (waste management sector), as well as SIA “FORTES” and AS “JAUDA” (energy sector). During the conference, Latvian business representatives also met with European Commissioner for Economy and Productivity, Implementation and Simplification, Valdis Dombrovskis, Minister of Economics Viktors Valainis, and Ambassador-at-Large Maija Manika, to discuss current issues facing Latvian companies operating in Ukraine and the EU support instruments available to foster business cooperation with Ukraine.
JSC Development Finance Institution ALTUM signed an agreement to join an EU initiative aimed at promoting exports to Ukraine. Latvia is participating in this initiative alongside nine other EU countries, with three more expected to join. Under the initiative, Latvia will have access to EUR 7.2 million to support up to 70 Latvian small and medium-sized enterprises, thus involving an increasing number of private sector players in Ukraine’s reconstruction.
Attention was also drawn to Ukraine’s energy infrastructure, which has suffered significant damage due to Russian attacks. Maija Manika took part in the G7+ meeting on energy support for Ukraine, where the current state of Ukraine’s energy sector was discussed, with a focus on immediate needs and both pledged and planned donor support.
Background information
The Ukraine Recovery Conference is being held for the fourth time since Russia launched its full-scale invasion of Ukraine on 24 February 2022. The aim of the conference is to continue mobilising international support and investment for Ukraine’s reconstruction, reforms, and modernisation, and to promote a coordinated approach for the effective use of resources.
The Ukraine Donor Platform is a format launched in January 2023 by the G7 countries (United States, United Kingdom, France, Italy, Japan, Canada, and Germany), the European Commission, and Ukraine. Its goal is to provide Ukraine with coordinated support in the areas of finance, reconstruction, and reform implementation. Italy currently holds the presidency of the platform. Latvia has held observer status in the Steering Committee of this format since February 2024.
Under the bilateral agreement on long-term support and security commitments signed between Latvia and Ukraine on 11 April 2024, Latvia has earmarked EUR 15 million for the period from 2024 to 2026 to implement reconstruction projects, focusing on the restoration of social infrastructure, psychological support for women, and the transfer of expertise, particularly in areas related to EU integration. In February of this year, the Latvian government approved EUR 5 million for reconstruction measures in Ukraine in 2025.