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Italian credit agency SACE to allocate additional USD 1.1bn for Ukraine – Ukraine’s PM Shmyhal

joint briefing ukriane reconstruction conference rome ukrainian prime minister shmyhal italian prime minister meloni
Ukrainian Prime Minister Denys Shmyhal and Italian Prime Minister Giorgia Meloni at a joint briefing, a video screenshot/ Source: YouTube, the Cabinet of Ministers of Ukraine (CabMin)

In addition to the previously announced €500 million ($522 million), the Italian Export Credit Agency SACE will allocate an additional €1 billion ($1.1 billion) to support trade and financial operations. This is a highly important signal for Italian business, as reported by Interfax-Ukraine, referencing the statement by Prime Minister of Ukraine Denys Shmyhal during the briefing in Rome.

“In addition to the € 500 million [credit-ed.] line, the agency is ready, according to our data, to allocate another € 1 billion to support trade and financial operations, in particular in the field of healthcare and infrastructure,” the head of the Ukrainian government said on Wednesday at a briefing in Rome with Italian Prime Minister Giorgia Meloni.

Shmyhal added that the Italian Development Finance Institution SIMEST would support investments by Italian companies in Ukraine reconstruction through:

  • the export credits
  • the concessional lending
  • the direct investment

For her part, Prime Minister Meloni noted that the Italian government will support the private sector and businesses’ cooperation between the two countries, emphasizing that Ukraine’s reconstruction is a matter for entire Europe.

“In my opinion, investing in Ukraine is not a risk, but rather one of the most foresighted investments that can be made today,” stated Meloni.

It is important to note that earlier today, the Bilateral Conference on Ukraine Reconstruction was held in Rome with the participation of Ukrainian Prime Minister Denys Shmyhal and Italian Prime Minister Giorgia Meloni. In addition, other members of the governments of both countries and international financial representatives took part in the bilateral conference.

During his meeting with Shmyhal, Italian President Sergio Mattarella advocated for Ukraine’s swift EU accession.

Read also:

Italian President pledges full support to Ukraine: “We are all appalled by cruelty of the Russians”

Italy delivered at least 30 howitzers to Ukraine within few weeks, La Repubblica says

Ukrainian soldiers finished training on Samp-T anti-missile system in Italy – media

Ukrainian military learn how to operate modern air defense system in Italy – Il Giornale D’Italia

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