Italy Pledges €200 Million to Rebuild Ukraine’s Power Grid Damaged by Russian Strikes

Italy will invest €200 million in the reconstruction of Ukraine’s power grid, heavily damaged by Russian strikes, according to Italian Deputy Prime Minister and Minister of Foreign Affairs Antonio Tajani on November 21.

The announcement was made during the Italy-Ukraine Business Forum in Rome.

“We want to work on rebuilding Ukraine even during the war and have decided to invest €200 million to help restore its power grid, which was destroyed by Russian attacks. We cannot allow 'General Winter' to become an ally of Russia,” Tajani stated.

Tajani expressed hope that Italian companies will play a key role in Ukraine’s reconstruction, while also encouraging Ukrainian businesses to engage with Italy.

“This business forum goes beyond mere reconstruction. We are investing in something bigger. Ukraine is a candidate country for EU membership and will become part of the shared European market. We need to prepare for this collaboration,” he emphasized.

On November 20, Rome is hosting the plenary session of the Italy-Ukraine Business Forum, organized by Italy’s Ministry of Foreign Affairs and International Cooperation in partnership with Ukraine’s Ministry of Economy.

The forum serves as a preparatory event for the Ukraine Recovery Conference, scheduled to be held in Rome on July 10-11, 2025.