Business news from Ukraine

Switzerland to allocate 1.5 bln francs for Ukraine’s recovery

16 January , 2024  

Switzerland plans to allocate 1.5 billion francs for the restoration of Ukraine for the period from 2025 to 2028 as part of its international cooperation strategy, said Viola Amherd, President of the Swiss Confederation.

“Switzerland is placing great emphasis on the recovery of Ukraine. The principles laid down at the Lugano conference serve as a political compass for recovery. Switzerland has planned 1.5 billion francs in support of Ukraine for the period from 2025 to 2028 as part of its international cooperation strategy,” Amherd said at a press conference with the President of Ukraine in Switzerland on Monday.

She also noted that she had discussed with Zelenskyy the issue of humanitarian demining in Ukraine and food security related to the restriction of grain and food exports through the Black Sea due to Russian aggression.

“If such a large exporting country as Ukraine harvests less crops and food, it will have major negative consequences. In this regard, we discussed the UN’s efforts to facilitate the unimpeded export of food and fertilizers from Ukraine through the Black Sea. Russia’s decision not to continue the grain initiative poses a threat to food security around the world,” Amherd said.

For his part, the President of Ukraine, answering the question of what facilities the Swiss funds will be used to restore, said that Ukraine needs to strengthen its energy system and build bomb shelters.

“You know that many representatives of the Swiss government have been to Ukraine many times. They have seen that thousands of Ukrainian schools, Ukrainian children are under constant risk of missile attacks, ballistic missiles, and Iranian drones. That’s why the issue of bomb shelters and safety for children is very important,” he said.

He also reminded that “Ukraine has experienced several blackouts, and it was very difficult, but this winter we are stronger, and this must be strengthened.”

“There should be a decentralized energy system, and it should be safe. As well as water supply,” the President summarized.