Italy will allocate €200 million for the reconstruction of Ukraine's electrical grid.

The Vice Prime Minister, Minister of Foreign Affairs and International Cooperation of Italy, Antonio Tajani, announced that Italy will invest 200 million euros in the restoration of energy facilities damaged by Russian attacks. This information was shared by the official during a plenary session of the Italian-Ukrainian Business Forum in Rome, as reported by Ukrinform on November 20.

Tajani noted that Italy aims to work on the rebuilding of Ukraine even during the war. He expressed hope that Italian companies will participate in the reconstruction of Ukraine. At the same time, he mentioned that "Ukrainian companies are also expected in Italy."

"We must not forget that Ukraine is a candidate country for EU membership and will be part of the common European market. Therefore, we need to prepare opportunities for interaction,” explained the Italian Vice Prime Minister.

According to information from the Ministry of Economy, Italy, in collaboration with the European Bank for Reconstruction and Development (EBRD), will allocate 200 million euros to the largest hydropower company in Ukraine, "Ukrhydroenergo." Under the agreement signed in February 2024, the loan funds will be used to purchase critical equipment for the Dnipro and Middle Dnipro hydroelectric power stations, as well as to provide support to "Ukrhydroenergo."

As reported by "Ukrinform," on November 20, a plenary session of the Italian-Ukrainian Business Forum took place in Rome, organized by the Ministry of Foreign Affairs and International Cooperation of Italy in collaboration with the Ministry of Economy of Ukraine. The forum serves as a preparatory event for the Ukraine Recovery Conference, which will be held in Rome on July 10-11, 2025.

Recall that at the end of October, Ukraine and the European Union agreed to increase the capacity for electricity imports – starting from December 1, the maximum capacity for importing electrical energy from EU countries will rise from the current 1.7 to 2.1 GW. Additionally, Ukraine will have the opportunity for guaranteed 250 MW of cross-border capacity from the EU in emergency assistance mode.