Switzerland plans to allocate over $1.7 billion for Ukraine's recovery.

Switzerland plans to allocate 1.5 billion Swiss francs (£1.75 billion) for Ukraine's recovery efforts between 2025 and 2028 under an international cooperation strategy, ArmyInform reported on Jan.

15, citing Swiss President Viola Amherd. Switzerland's head of state announced this on the occasion of Ukraine's President Volodymyr Zelensky's visit to Bern, the country's capital. While refusing to supply Kyiv with military aid on account of its long-term neutrality policy, Switzerland has nevertheless provided economic, humanitarian, and political support to the besieged country.

Switzerland also hosted the 2022 Ukraine Recovery Conference in Lugano, which laid down principles for the reconstruction and recovery process in Ukraine. "The Lugano principles laid down at the Ukraine Recovery Conference in July 2022 serve as a political compass for reconstruction," Amherd said. "In support of Ukraine, Switzerland has planned to allocate 1.5 billion francs under the next international cooperation strategy for the period of 2025-2028."

According to Amherd, a key issue of recovery efforts is humanitarian demining, a topic which she had discussed with Zelensky. Reconstruction aid was not the only new assistance presented by Switzerland. Zelensky said earlier on Jan.

15 that Amherd agreed to start preparations for the Global Peace Summit and host the event. The two leaders also discussed a "new long-term support program" for Ukraine, Zelensky said. Prior to his talks with Amherd, Zelensky also met with Eric Nussbaumer, the head of the Swiss parliament's lower house, and with Eva Herzog, the head of the upper house, as well as leaders of parliamentary parties and groups.

Zelensky is then scheduled to visit Davos to attend the World Economic Forum, an annual event gathering world's political, business, and civil society leaders.

Zelensky: Switzerland agrees to host Global Peace Summit

President Volodymyr Zelensky said that during his talks with his Swiss counterpart, the two leaders agreed to start preparations for holding the Global Peace Summit at the level of state leaders in Switzerland.