In a world growing more fragmented and perilous, Canada’s commitment to fostering dependable, collaborative relationships remains steadfast. The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, concluded a significant visit to Rome, Italy on July 11, 2025, where he participated in the fourth Ukraine Recovery Conference and engaged in critical Canada-Italy bilateral discussions.
“In a world marked by uncertainty, Canada is choosing to lead — by standing with our allies, supporting Ukraine, and deepening our global partnerships. This week’s discussions in Rome were about more than recovery, they were about resilience, unity, and building the future together,” expressed the Honourable François-Philippe Champagne, Minister of Finance and National Revenue.
The Ukraine Recovery Conference stands as a global rallying point for leaders united in their determination to support Ukraine’s recovery and reconstruction. Minister Champagne took an active role in the event, joining the Ukraine Donor Platform ministerial meeting and engaging with international partners to address the country’s financial and recovery needs. During this high-profile event, he led an important panel of global experts discussing private financing solutions for Ukraine’s reconstruction.
In a notable announcement, Minister Champagne confirmed a $200 million contribution from Canada to support Ukraine’s recovery through the World Bank’s F.O.R.T.I.S. Ukraine Financial Intermediary Fund. This contribution is part of Canada’s larger $5 billion commitment under the G7 Extraordinary Revenue Allocation (ERA) loans mechanism, marking a significant step in the international community’s efforts to stabilize Ukraine.
The conference also provided a platform for furthering shared priorities with Canada’s international allies, particularly in the realms of energy security and production. Minister Champagne held productive meetings with several key figures, including the Deputy Prime Minister of the United Kingdom, the Ukrainian and Italian Finance Ministers, and the President of the European Bank for Reconstruction and Development. Discussions also included senior executives from major Canadian and Italian financial and energy firms, reflecting the growing partnership between the nations.
As part of the visit, Minister Champagne and his Italian counterpart, Giancarlo Giorgetti, took a tour of Italy’s leading financial crime unit. This initiative highlights ongoing efforts to combat financial crime, building on commitments made during the G7 Finance Ministers and Central Bank Governors meeting held in Banff, Alberta.
The Minister’s visit culminated with a planned meeting with His Excellency Archbishop Paul Gallagher, the Vatican’s Secretary for Relations with States, to further strengthen Canada’s diplomatic ties with the Holy See.
Through these engagements, Canada’s commitment to Ukraine remains unwavering, as the nation continues to support its international partners in rebuilding a peaceful and secure future for Ukraine.
