Italy will allocate another 10 million euros to Ukraine for energy restoration

Italy continues to support the Ukrainian energy sector in the context of war. The Ambassador Extraordinary and Plenipotentiary of Italy to Ukraine and the Director of the Energy Community Secretariat signed an agreement on a new contribution to the Energy Support Fund for Ukraine.

This was announced by the First Deputy Prime Minister of Ukraine – Minister of Energy Denys Shmyhal.

According to him, Italy will allocate an additional 10 million euros for repair and restoration work in the Ukrainian energy sector. Earlier, the Italian side has already contributed 13 million euros to the Energy Support Fund for Ukraine.

“In continuation of our dialogue in Berlin this week, we discussed the strengthening of the Ukrainian energy sector and further integration into the EU energy space,” Shmyhal noted.

During the meeting, the parties also discussed mechanisms for attracting international business to invest in the Ukrainian energy sector. In particular, they discussed renewed auctions for the construction of new generating capacities, which should serve as a signal to foreign investors.

The Ministry of Energy emphasizes that Ukraine plans to present new investment opportunities at the URC conference in Poland in June.

The parties paid special attention to the issues of insurance and reducing military risks for international investors who are ready to invest in the restoration and development of Ukrainian energy infrastructure.