Italy is investing €200 million in the restoration of Ukraine's energy system.

Italy is investing €200 million in the restoration of Ukraine's energy system, which has been devastated by Russian shelling.

This was announced by Italy's Foreign Minister Antonio Tajani at the Italian-Ukrainian business forum held on November 20 in Rome, reports "European Truth."

The Minister emphasized that investment in the reconstruction of Ukraine is necessary now, during the war. 

"We have decided to invest €200 million to enable Ukraine to rebuild the power grid that was destroyed by Russian attacks. We cannot allow ‘General Winter’ to become an ally of Russia," said Tajani.

He also reminded that Italy is organizing a conference on the reconstruction of Ukraine, which will take place in Rome next year.

For its part, Ukraine promised Italy to deepen cooperation in the supply of critical raw materials.

Italy's Minister of Enterprises and Production Adolfo Urso and Ukraine's First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko signed a corresponding joint statement during the business forum.

"Italy has been and remains an important economic partner for Ukraine. Today we are taking the next step in our relations, laying a solid foundation for even closer cooperation in the future. Our countries will work together to develop value-added chains for critical raw materials. Attracting investments and innovative development in this area is one of Ukraine's priorities. Cooperation with Italy will contribute to achieving our goals," noted Yulia Svyrydenko.

Collaboration will develop in the following areas:

• strengthening value-added chains for critical raw materials; 
• international cooperation;
• research and innovation;
• mapping and exploration. 

Background. As reported, Italy became one of the five European countries that supported the proposal for issuing joint military bonds aimed at supporting the defense industry of the bloc.