ROME, July 11. /TASS/. The Italian newspaper iL Fatto Quotidiano writes that the ongoing Ukraine restoration conference in Rome is "an event lacking weight and significance."
The newspaper stated that the only significant point for Italy and its PM Giorgia Meloni was the presence of European Commission President Ursula von der Leyen, who spoke about potential European loans to EU member states for developing the defense industry in Ukraine.
Meanwhile, in Strasbourg, a confidence vote on the EC President was held. It was not adopted, but, according to the newspaper, members of the European Parliament from Meloni’s party, Brothers of Italy, did not participate in the vote. Both the League, part of Meloni's ruling coalition that openly criticizes the EC head, and the opposition Five Star Movement voted in favor of the no-confidence motion. Brothers of Italy did not support von der Leyen during her re-election as EC President a year ago, however, as the newspaper stated, Meloni has managed to maintain balanced relations with the EC head, despite not being part of her "majority" in EU Parliament.
The newspaper noted the poor organization of the Ukraine conference. Journalists and business participants in roundtable discussions had to wait in line for two hours before entering La Nuvola convention center, where the delegates were gathered. Among them was Odessa’s mayor, with whom the Italian government has signed several agreements, including ones on funding the restoration of architectural heritage sites.
The conference announced the creation of another European fund for Ukraine restoration, aimed at attracting investments totaling 10 billion euros.
According to the World Bank’s estimates, Ukraine will require $500 billion for reconstruction over the next decade. The Euractiv news website reported that material damage is only part of the problem, as entire sectors require restoration. The most affected by the military actions sectors are the housing sector ($57 billion), the transportation network ($36 billion) and the energy and mining industries ($20 billion), the publication wrote.