Latest news with #CarloFormosa
Yahoo
16-04-2025
- Business
- Yahoo
Italy transfers $28 million to restore Ukraine's energy infrastructure
The Italian government has transferred the first 25 million euros ($28.3 million) installment to help rebuild Ukraine's war-damaged energy infrastructure, the Italian Embassy in Ukraine told the Kyiv Independent on April 16. The funds are part of a broader 200 million euros (around $227 million) initiative co-financed by the European Bank for Reconstruction and Development (EBRD). The disbursed funds are directed to Ukraine's state-owned energy company Ukrhydroenergo. The project aims to implement urgent measures to restore energy access, reinforce critical power grids, and ensure delivery of essential services in the hardest-hit regions. "This first financing is a concrete signal of Italy's strong support for Ukraine's energy sector, which has been severely tested by the war," said Italian Ambassador to Ukraine Carlo Formosa. The initiative is also part of a 125 million euros (approximately $142 million) Italian assistance package focused on energy security and Ukraine's reconstruction. The aid is being delivered in coordination with Ukrainian institutions and international partners. "The country's recovery begins with light, heat, and basic services that unite communities and make them resilient," Formosa added. Since the start of Russia's full-scale invasion in 2022, Moscow has systematically targeted Ukraine's civilian energy infrastructure. Although Ukraine agreed to a full 30-day ceasefire in U.S.-mediated talks held in Jeddah on March 11, Russia rejected the deal unless it included limitations on Ukraine's military and foreign aid. A partial ceasefire, covering energy infrastructure and the Black Sea, was reached instead. Russia has since violated the terms of that limited agreement. Read also: US softens demands on Ukraine minerals deal after Washington talks, Bloomberg reports We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
01-03-2025
- Business
- Yahoo
Italy to contribute €13 million to Ukraine Energy Support Fund
Italy will contribute €13 million to the Ukraine Energy Support Fund, and the relevant agreement was signed the day before. Source: Ministry of Energy of Ukraine, as reported by European Pravda Details: The Ukraine Energy Support Fund was established in April 2022. The agreement on Italy's contribution to the Energy Support Fund in the amount of €13 million was signed by Italian Ambassador to Kyiv Carlo Formosa in the presence of Deputy Energy Minister Roman Andarak. "This assistance will allow us to purchase the necessary equipment and strengthen the resilience of the Ukrainian energy system in the face of the enemy's merciless attacks on power facilities, and Ukrainian power engineers are working around the clock to repair the damaged ones so that Ukrainians have power and heat in their homes," Andarak said. So far, the announced contributions of partners to the Energy Support Fund amount to more than €1 billion. The fund's donors include the public and private sectors from more than 30 countries. Background: The day before, NBC News reported that the United States had suspended programmes to support Ukraine's energy system. In particular, the US Department of State has suspended the USAID project to restore Ukraine's power grid after Russian attacks. The Trump administration has said it is cancelling more than 90% of USAID grants in total. Support Ukrainska Pravda on Patreon!
Yahoo
04-02-2025
- Business
- Yahoo
Italy allocates over $2 million to strengthen Ukraine's energy system
Italy has signed an agreement with the United Nations Environment Program (UNEP) to launch a 2 million euro ($2.07 million) project to strengthen Ukraine's energy system, the Italian Embassy in Ukraine told the Kyiv Independent. Russia has consistently attacked Ukraine's energy infrastructure since 2022, resulting in nationwide power outages and causing an energy deficit. The project, funded by the Italian government, aims to make Ukraine's energy system "more resilient and decentralized" in accordance with the "Build Back Better" principle. The initiative provides for a detailed analysis of opportunities for integrating renewable energy sources into Ukraine's energy system, said Italian Ambassador to Ukraine Carlo Formosa, who participated in the signing of the agreement with the U.N. "Advanced technological tools will be explored to improve energy efficiency and reduce consumption in order to create a model for more sustainable energy planning for cities," he said. The project includes training and technology transfer involving Italian and Ukrainian experts to enhance local expertise in sustainable energy management, the statement read. The program will also support the Ukrainian government in developing a long-term policy for the energy transition and attracting investment in the renewable energy sector, according to Formosa. There were two large-scale Russian attacks on energy infrastructure over the past month, as well as smaller attacks, but due to the warm weather, the Ukrainian energy grid was able to operate without scheduled blackouts. Read also: Ukraine's unlikely ally against Russian attacks on energy sector — warm weather We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
