EBRD provides $590 mln to Ukraine's Naftogaz for emergency gas purchase
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Nafto...
The two-day Ukraine Recovery Conference wrapped up in Rome on Friday, but the vision of rebuilding the war-torn country remains largely theoretical amid the absence of a ceasefire.
Co-hosted by Italy and Ukraine, the conference brought together top European leaders, including European Commission President Ursula von der Leyen, as well as representatives from Germany, Poland, Greece, Albania, and a U.S. special envoy.
Ukrainian President Volodymyr Zelenskyy addressed the forum on Thursday, urging the international community to strengthen sanctions against Russia and boost support for Ukraine’s eventual reconstruction. He highlighted growing drone and missile attacks on Kyiv, underlining the need for external investment not only for recovery but also for enhancing Ukraine’s defences.
Zelenskyy also met with U.S. Special Envoy Keith Kellogg on Wednesday in Rome, where the two discussed military aid and the urgent need for improved air defence systems. Their meeting came as Ukrainian cities continued to suffer under relentless Russian aerial assaults.
Earlier this month, Politico reported that the United States had paused shipments of key air defence munitions to Ukraine due to concerns about dwindling domestic stockpiles. However, Zelenskyy announced on Friday that U.S. military assistance had resumed, though its long-term continuity remains uncertain amid Washington’s shifting priorities and its ongoing reluctance to extend NATO membership to Ukraine.
These realities present significant hurdles to Ukraine’s reconstruction ambitions, with recovery plans heavily dependent on the outcome of the ongoing conflict.
A joint report by the Ukrainian government, World Bank Group, European Commission, and United Nations estimates that rebuilding Ukraine over the next decade will cost around $524 billion.
During the conference, Italian Prime Minister Giorgia Meloni said participating countries pledged a combined 10 billion euros (approximately $11.7 billion) to stimulate investment in Ukraine. The European Commission also unveiled a new 2.3 billion euro funding package, involving agreements with international and bilateral financial institutions, to support recovery initiatives.
While the conference showcased investment potential across various sectors—including energy, mining, and defence—some raised concerns over the possible exploitation of Ukraine’s natural and industrial resources under the guise of foreign investment.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
Ukrainian President Volodymyr Zelenskyy will meet British Prime Minister Keir Starmer in London on Thursday, a day before U.S. President Donald Trump holds talks with Russian President Vladimir Putin in Alaska.
A major forest fire in northern Morocco is now largely under control, though efforts to fully extinguish it are still underway, the national water and forests agency (ANEF) said on Wednesday.
Supporters of the ruling Serbian Progressive Party (SNS) threw flares and firecrackers at anti-government protesters in Novi Sad on Wednesday evening, according to Reuters, prompting police to intervene to end the standoff, a major escalation of nine-month-long protests in Serbia.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 14th of August, covering the latest developments you need to know.
WhatsApp said Russia was trying to block its services because the social media messaging app owned by Meta Platforms META.O offered people's right to secure communication, and vowed to continue trying to make encrypted services available in Russia.
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