Ukraine counts on EUR 1 billion from Italy for rapid recovery
Ukraine is counting on Italy’s active participation in the reconstruction of Ukraine. In particular, in the implementation of joint infrastructure, logistics, manufacturing and commercial projects. This was stated by Prime Minister Denys Shmyhal during a meeting with President of the Council of Ministers of the Italian Republic Giorgia Meloni during the Government team’s visit to Rome.
“In 2023, Ukraine needs USD 14 billion for rapid recovery. This is the amount required to meet people’s most basic needs, such as a roof over their heads, light and heat in winter. The G7 countries are stepping up to help rebuild Ukraine. The United States is providing USD 2.3 billion. The European Commission is providing EUR 1 billion. We expect the same support from the SACE agency in the amount of EUR 1 billion, which will help Ukraine restore the economy, infrastructure, and basic humanitarian and social needs of people,” the Prime Minister of Ukraine stressed.
Denys Shmyhal emphasised that Ukraine was also interested in Italian investments for reconstruction. He noted that the main resource for the future recovery would be the confiscated russian assets and called for assistance in channeling them to the needs of Ukraine.
Among the issues discussed were the implementation of the Recovery Plan, integration into the EU and NATO, and the implementation of President Volodymyr Zelenskyy’s Peace Formula.
The Prime Minister of Ukraine also called for increased sanctions pressure on russia. In particular, the price of russian oil should be capped, European companies should be excluded from the russian market, sanctions should be imposed on russia’s nuclear industry, and compliance with restrictions already in place should be closely monitored.
During the meeting, Denys Shmyhal and Giorgia Meloni discussed the issue of the release of Ukrainian civilians, including children, from russian captivity. The Prime Minister of Ukraine stressed the need for active action by Italy and other partners in this regard.
Denys Shmyhal thanked the Government and people of Italy for their comprehensive support in countering russian aggression and protecting our common values.
For her part, Giorgia Meloni noted that Italy would continue to support Ukraine on its path to EU membership and praised Ukraine’s reforms.