ROME, April 23 (RIA Novosti) - Italian Prime Minister Silvio Berlusconi said on Thursday the Group of Eight summit would be moved from La Maddalena Island to earthquake-hit L'Aquila, Italian media reported.

Speaking after the Cabinet approved the move at a government session, Berlusconi said holding the summit of the leading industrial nations in the Abruzzo region, which was hit by a powerful earthquake on April 6, would be more "austere." He said the 220 million euros ($287 million) allocated for security and other summit purposes would help to revive the region.

The government said the move would need the agreement of the other nations attending the summit due on July 8-10 on the Mediterranean island off Sicily.

The government earlier on Thursday earmarked 8 billion euros ($2.6 billion) for efforts to deal with the aftermath of the quake, which killed 294 people, demolished villages and areas in some towns, and made tens of thousands homeless.