Latvia Pledges Significant Support for Ukraine’s Recovery
To date, Latvia has committed over €890 million to assist Ukraine. Now, Minister of Economics Viktors Valainis is advocating for increased international aid for reconstruction efforts during a visit to Italy.
Latvia’s Commitment to Ukraine
According to Minister Valainis, the Latvian contribution, which includes various forms of support, represents approximately 0.7% of the nation’s gross domestic product (GDP).
Valainis emphasized, “We must continue to raise awareness in other countries about the necessity of providing Ukraine with all the support it needs for reconstruction.”
International Conference in Rome
From Wednesday to Thursday, Minister Valainis is participating in the annual high-level conference in Rome, Italy, focusing on Ukraine’s reconstruction, where he intends to meet with business leaders.
“Ukraine Recovery 2025” aims to promote international support and investment for Ukraine’s recovery, reconstruction, reforms, and modernization, as well as to highlight Ukraine’s progress in implementing reforms and moving toward EU membership. The event will also focus on the support already provided by European countries and the next steps forward.
Numerous countries from Southern, Western, Central, and Eastern Europe will be represented at the conference, including Poland, the Czech Republic, Slovakia, and the Baltic States, in addition to a sizable Ukrainian delegation.
Discussions on Economic Cooperation
Minister Valainis is scheduled to have a bilateral meeting with European Commissioner for Economy, Valdis Dombrovskis, to discuss Latvia’s business involvement in the reconstruction process and broader economic cooperation with Ukraine.
Additionally, Valainis plans to engage with executives from Italian firms operating in railway engineering, steel production, and defense manufacturing.
Broader Context of International Aid
Latvia’s contribution comes amid growing international efforts to support Ukraine. As of April 2024, the World Bank has mobilized over $41 billion in emergency financing for Ukraine (World Bank, 2024), highlighting the scale of assistance required for the nation’s recovery.