German Chancellor speaks at the international conference on Ukraine’s reconstruction in Berlin on June 11 (Photo: Reuters)

Citing World Bank (WB) data estimating that Ukraine may need 500 billion USD over a decade to rebuild after the conflict, Mr. Scholz affirmed that companies will see business opportunities to invest in Ukraine's renewable energy, information technology and pharmaceuticals. Ukraine hopes that through this Reconstruction Conference, it will receive significant funding.

Ukrainian President Volodymyr Zelensky said Ukraine’s energy system needed urgent support as the conflict caused heavy damage to electricity generation capacity, resulting in frequent blackouts in Kiev and elsewhere in Ukraine. The Ukrainian President also hopes to receive investment in education, health and construction.

Italian Foreign Minister Antonio Tajani said the government agreed to provide an aid package of 149 million euros for Ukraine to rebuild its infrastructure. The same day, the Ministries of Finance of Ukraine and Germany signed a Joint Statement on intention to strengthen bilateral cooperation to support Ukraine's post-conflict reconstruction.