Minister Champagne concludes visit to Italy and reiterates Canada’s unshakable support for Ukraine

From: Department of Finance Canada

News release

July 11, 2025 - Rome, Italy - Department of Finance Canada

In an increasingly dangerous and divided world, co-operation with reliable partners is more important than ever. Canada is building a new era of collaboration – one rooted in mutual support and resilient partnerships.

The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today concluded a productive visit to Rome, Italy, where he took part in the fourth Ukraine Recovery Conference and bilateral Canada-Italy discussions.

The Conference unites world leaders behind the Ukrainian cause, and the shared imperative of guaranteeing a lasting support and reconstruction of Ukraine. To that end, Minister Champagne participated in the Ukraine Donor Platform ministerial meeting and met with several international partners to discuss Ukraine’s financing and recovery needs. The Minister chaired a major, high-level panel of global experts on ways to privately finance Ukraine’s reconstruction, in which he seized the occasion to announce the disbursement of a $200 million contribution to support Ukraine through the World Bank’s Facilitation of Resources to Invest in Strengthening (F.O.R.T.I.S.) Ukraine Financial Intermediary Fund. This disbursement fulfills Canada’s $5 billion total contribution under the G7 Extraordinary Revenue Allocation (ERA) loans mechanism.

The forum was also an opportunity to advance shared priorities with international partners, particularly in energy production and security partnerships. Minister Champagne met with leading partners, namely the Deputy Prime Minister of the United Kingdom, the Italian and Ukrainian ministers of Finance, the President of the European Bank for Reconstruction and Development, the Governor of the Bank of Italy, and Chief Executive Officers of major Italian and Canadian financial and energy firms.

The Minister and his Italian counterpart, Giancarlo Giorgetti, together visited Italy’s preeminent financial crime unit to learn best practices, in support of the G7 Financial Crime Call to Action agreed at the G7 Finance Ministers and Central Bank Governors Meeting in Banff, Alberta.

Finally, the Minister will be meeting with the Vatican’s Secretary for Relations with States, His Excellency Archbishop Paul Gallagher, on Saturday.

Quotes

"In a world marked by uncertainty, Canada is choosing to lead — by standing with our allies, supporting Ukraine, and deepening our global partnerships. This week’s discussions in Rome were about more than recovery, they were about resilience, unity, and building the future together."

- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue

Quick facts

  • This conference is a forum for governments, international organisations, financial institutions, businesses, regions, municipalities and civil society to work together to strengthen the resilience of Ukraine.

  • Canada is home to a large and vibrant Ukrainian community that is one and a half million people strong.

  • Since February 2022, Canada has provided $22 billion in multifaceted support for Ukraine, including financial, development, humanitarian, military, and security and stabilization assistance.

  • At the 2025 Ukraine Recovery Conference, Canada and the EU, as co-chairs of the G7+ Ukraine Energy Coordination Group, reaffirmed their commitment to supporting Ukraine’s sustainable energy recovery, calling for urgent international support to fund emergency repairs, scale up renewables, and ensure energy security, especially in preparation for winter.

Associated links

Contacts

Media may contact:

Audrey Milette
Office of the Minister of Finance and National Revenue
audrey.milette@fin.gc.ca

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

Stay Connected

Page details

2025-07-11