Zelensky urges more investment in defence against Russian attacks

Zelensky urges more investment in defence against Russian attacks
by AFP Staff Writers
Rome (AFP) July 10, 2025

Ukrainian President Volodymyr Zelensky urged politicians and businesses in Rome on Thursday to boost defence investments in the face of intensified attacks on his country by Russia.

Zelensky was speaking at the start of the two-day Ukraine Recovery Conference, aimed at mobilising support and investment for his nation as it enters the fourth year since Moscow's 2022 invasion.

"This is what we must focus on first -- we must stop Russian drones and missiles. This means more air defence supplies and investments in interceptor drones, air defence systems, and missiles," Zelensky said.

"I urge all our partners -- increase your investments. When Russia increases its attacks, we cannot have a shortage of funding."

Italian Prime Minister Giorgia Meloni said commitments worth a total of around 10 billion euros ($12 billion) would be made, without giving details.

The gathering -- the fourth such annual event since Russia's February 2022 invasion -- took place as Russia hammered Ukraine's capital with its second large-scale drone and missile barrage in as many nights, killing at least two people.

Zelensky said Russian President Vladimir Putin wanted "our people to suffer, to flee Ukraine and for homes, schools, for life itself to be destroyed".

He urged the estimated 2,000 companies and around 30 countries represented in Rome to help Ukraine and themselves.

"Ukraine has some of the world's most advanced drone technologies for both offence and defence. We are ready to share this expertise," he said.

- Ukraine reconstruction investment fund -

The European Union said Thursday it had identified 2.3 billion euros ($2.7 billion) to aid the reconstruction of Ukraine, and also announced a new equity fund to boost private investments.

The bloc has stepped up its support for the war-torn country since US President Donald Trump's return to office in January raised questions about Washington's commitment to Kyiv.

Meloni said rebuilding Ukraine would require the "robust mobilisation of private capital".

Italy, France, Germany and Poland will participate in the new EU equity fund, which Brussels says will have an initial capital of 220 million euros and aims to mobilise 500 million euros by 2026.

"The message we want to send to entrepreneurs today is simple: do not be afraid to invest... to rebuild in Ukraine," Meloni said.

She insisted it was "not a gamble, it is an investment in a nation that has shown more resilience than any other".

"But it is also an investment in peace, in the economic growth of all of Europe and in the security of our citizens."