Switzerland to provide Ukraine with US$1.7 billion for restoration within 4 years

Switzerland will provide 1.5 billion Swiss francs (approx. US£1.7 billion) over the next four years for Ukraine's rehabilitation initiatives, as well as encourage private sector investment. Source: Ukraine's Ministry for Communities, Territories, and Infrastructure Development, following the meeting of Minister Oleksii Kuleba with Felix Baumann, Swiss Ambassador to Ukraine, as reported by European Pravda

Details: According to Baumann, one billion of these funds will be directed to the self-government, demining and humanitarian assistance sectors.

The remaining amount will go to recovery programmes involving the Swiss private sector. Quote: "To emphasise the seriousness of our intentions, our representative will work here, and will be responsible for the implementation of this project," he said, adding that a delegation from the private sector, which is familiar with Ukraine's medium and long term needs in the areas of the ministry's responsibility, is currently working in Kyiv. The ministry also stated that Switzerland has long been implementing support programmes for Ukraine.

These are recovery programmes, cooperative projects with Ukrzaliznytsia, and help in preparing for the heating season.

In 2023, the Swiss government approved a four-year humanitarian aid programme of 100 million Swiss francs (approx. US£118 million) for demining in the region. Switzerland has also funded a project to assist mine victims and small farmers who are unable to cultivate their crops.

In September, the country announced the Ukraine Mine Action Conference (UMAC2024), which will take place in Lausanne on 17-18 October.

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