Ukraine Recovery Conference: CDP doubles down on its commitment to the reconstruction of the country

Ukraine Recovery Conference: CDP doubles down on its commitment to the reconstruction of the country

Launch of a new investment fund, coordinated by the European Commission with the involvement of the governments of Italy, France, Germany and Poland, in which CDP will work alongside development banks such as the EIB, KfW, Proparco and BGK

Cassa Depositi e Prestiti has also signed an agreement with SACE, SIMEST and the Ukrainian Ministry of Economics to foster cooperation between businesses in the two countries
 

Cassa Depositi e Prestiti took part in the fourth Ukraine Recovery Conference, held in Rome with the aim of contributing to the economic and social recovery of Ukraine, in synergy with the main actors in the Italian economy and European partners. The event was attended by a CDP delegation headed by CEO Dario Scannapieco, who signed two significant agreements for the reconstruction of the country.

The first agreement is geared to the creation of the EU Flagship Fund for the Reconstruction of Ukraine, an investment vehicle designed to support the Ukrainian private sector, which was unveiled during the Conference. This new fund is coordinated by the European Commission and involves the governments of Italy, France, Germany and Poland, together with the leading development banks: participating together with CDP will be the European Investment Bank (EIB), the German KfW, the French Proparco and the Polish BGK. The tool is structured to mobilise public and private resources, supporting the recovery of sectors such as energy, transport, industry and strategic infrastructure through equity investments. The goal is to raise €500 million by 2026, subsequently reaching €1 billion by a later date.
 
Together with SACE and SIMEST, CDP also signed a Memorandum of Understanding with the Ukrainian Ministry of Economics, represented by Deputy Prime Minister, Oleksii Sobolev. The accord aims to support reconstruction and economic development, promoting collaboration between businesses in the two countries, access to the financial and insurance solutions offered by Italian businesses, and support for exports and internationalisation.

The Group has worked actively to support Ukrainian institutions and Italian businesses present in the country since the start of the conflict as a key player in the Italian economy and intermediary of European resources. A commitment pursued since 2022 which has seen CDP promote numerous measures to guarantee the continuity of public services and support strategic sectors, for example by financing the leading Ukrainian hydroelectric company, to ensure power supplies, or contributing on behalf of the Italian government to the payment of the salaries of Ukrainian school teachers and staff. In parallel, the Group has also made advisory tools available such as the Business Matching platform, which enables Italian businesses to network more easily with their Ukrainian counterparts. This is joined by the actions of the CDP Foundation, with social housing and assistance projects for refugees.

During the second day of the Conference, Director of International Cooperation & Development Finance, Paolo Lombardo, represented Cassa Depositi e Prestiti on the panel “Empowering Ukraine’s Recovery: Leveraging Development Finance for Investments”. Lombardo underlined the central role of financial institutions like CDP in pooling public and private resources with the aim of maximising the positive impacts of the measures, also thanks to the strategic institutional coordination at both European and G7 level.