Business news from Ukraine

Business news from Ukraine

Switzerland to provide CHF 100 mln to Ukraine’s energy infrastructure

3 November , 2022  

At its meeting on November 2, the Swiss Federal Council adopted an action plan to mitigate the impact of the coming winter on the people of Ukraine. Switzerland is providing CHF 100 million in aid, in particular for projects financing the urgent rehabilitation of Ukraine’s energy infrastructure, the press service of the Council has reported.

“Around 18 million people in Ukraine – some 40 per cent of the population – are dependent on aid due to the war. With the onset of winter, this number may rise to 24 million. Over 30 per cent of Ukraine’s energy infrastructure has been damaged. The targeted attacks have left many places without access to drinking water, as well as disrupting power and telecommunications. Ukraine requires additional aid from the international community to deal with this emergency,” the Council said.

In this regard, the Federal Council adopted the Winter Aid Action Plan to support the people of Ukraine. In addition to its existing humanitarian undertaking in Ukraine and the region, including projects to support the urgent rehabilitation of energy infrastructure and alleviate the precarious humanitarian situation. Switzerland is helping Ukrainian energy companies purchase energy sources and spare parts, contributing to the repair of rail fastening systems (for the transport of heavy goods such as grain) and providing humanitarian support to help those worst affected by the war in Ukraine to prepare for winter (replacing windows, providing insulation and food, etc.). Efforts are also under way to determine if Switzerland can supply further relief goods such as generators, pumps or water treatment installations.

The Federal Council will submit a request to Parliament for a supplementary credit of CHF 76 million to cover these lines of action.