Business news from Ukraine

100 delegations will take part in Peace Summit in Switzerland

The Peace Summit, which will open on Saturday, June 15, in Switzerland, will be attended by 100 delegations, of which 92 represent states from around the world and 8 – international organizations, according to the press service of the Swiss government.

“President Viola Amerd will open the Summit on Peace in Ukraine on Saturday, June 15. The summit will be attended by 100 delegations, including 57 heads of state and government from around the world. The purpose of the summit is to launch a peace process, build trust and identify ideas on the next steps towards such a process. All states present should be given the opportunity to put forward their vision of a just and lasting peace in Ukraine,” the statement said.



Switzerland allocates over EUR 60 mln to support Ukraine in digitalization

The Swiss government has allocated CHF 58.7 million (EUR 60.6 million at the NBU exchange rate – IF-U) to continue supporting Ukraine in the field of digitalization and e-government over the next four years.

The decision was made by the Federal Council at a meeting on June 7, the Swiss government’s press service reports.

“Thus, Switzerland promotes democratic reforms in Ukraine through digitalization and at the same time increases the transparency of public services. Both areas are crucial for Ukraine’s recovery,” the statement said.

Switzerland will provide a total of 58.7 million Swiss francs in the period 2024-2028. The funding will come from the regular budget for international cooperation and will focus in particular on projects in regions directly affected by the war and important for the country’s future recovery. Some of the key areas will include health, education, and humanitarian demining.

It is noted that Switzerland will announce its support in the field of digitalization and e-government at the next Ukraine Recovery Conference, which will be held on June 11 and 12, 2024 in Berlin.


India will participate in Peace Summit in Switzerland

India will participate in the upcoming Peace Summit to be held on June 15-16 in Switzerland, Indian Prime Minister Narendra Modi has said, The Siasat Daily reports.

“India will participate in all important summits that advance the agenda of global peace, security and development,” Modi said, as quoted by The Siasat Daily.

According to the newspaper, this refers to the G7 summit, which will be held in Italy on June 13-15, as well as the Global Peace Summit, which will be held on June 15-16 in Switzerland.

Modi noted that India will “be the voice of the Global South” at these summits to shape the global discourse and promote a vision of people-centered development and a prosperous and peaceful world. “The level of participation will depend on time, logistics and concurrent commitments,” said the Indian Prime Minister in response to a question about whether he would attend the meetings. According to Modi, India’s invitations to these summits demonstrate the importance of the country and the weight of its contribution to international affairs.


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Swiss parliament approves $5.5 bln aid to Ukraine

A Swiss parliamentary committee voted late on Thursday night in favor of allocating 5 billion Swiss francs ($5.5 billion) in aid to Ukraine, Reuters reports.

“A Swiss parliamentary committee voted late on Thursday night to allocate 5 billion Swiss francs ($5.5 billion) in aid to Ukraine as part of a broader package aimed at boosting the defense capabilities of neutral Switzerland. Backed by lawmakers from center-left and center-right parties, the upper house’s security committee approved the package, which provides 10.1 billion francs in additional funds for the army, along with the amount for Ukraine,” it said.

The plan was adopted by 8 votes to 5, with right-wing parties opposed. It is noted that it will have to pass a number of parliamentary hurdles before the plan becomes law.

“The parliament statement said the multi-billion dollar package was conceived as an extraordinary contribution to Swiss security and ‘peace in Europe’ in the wake of the war Russia is waging against Ukraine,” the statement said.

The parliament also said that the Ukrainian part of the package is aimed at supporting the reconstruction and repair ofeveryday infrastructure necessary for life in Ukraine.

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Switzerland to allocate 5 bln francs for Ukraine’s recovery over 12 years

The Swiss government will allocate 5 billion francs as part of its long-term support for Ukraine. The program will last for 12 years, until 2036, the government’s press service reports.
“As a first step, about 1.5 billion Swiss francs are to be allocated from the international cooperation budget by 2028. This amount clearly demonstrates Switzerland’s solidarity with the people affected by the war in Ukraine and will increase stability on the European continent,” the statement said.
It is noted that in the period 2029-2036, the Federal Council also intends to explore other sources (in addition to international cooperation) from which the remaining 3.5 billion Swiss francs can be obtained.
The Federal Council has also commissioned the development of a joint country program for Ukraine, including appropriate oversight mechanisms. This program should ensure targeted and effective support and be based on the seven Lugano principles: partnership, reform focus, transparency, accountability and rule of law, democratic participation, multi-stakeholder engagement, gender equality and inclusiveness, and sustainability.
The Federal Council also instructed to determine how the country program for Ukraine will be implemented in the strategic plan. In particular, a proposal to establish an interagency coordination group headed by a delegate from Ukraine should be prepared and submitted to the Federation Council for approval.

Switzerland to hold two-day peace summit on Ukraine on June 15-16

On June 15-16, the Swiss government will hold a two-day high-level conference aimed at achieving peace in Ukraine, Reuters reports, citing a government statement.

Earlier in January, Switzerland announced that it would host the peace summit at the request of Ukrainian President Volodymyr Zelenskyy, and has since held talks with the EU, G7 member states, and countries such as China and India to secure their support.

“There is now sufficient international support for a high-level conference to launch the peace process,” the Federal Council said in a statement.

The conference will be held at the Burgenstock resort in the canton of Nidwalden near the city of Lucerne. Its goal is to create a framework conducive to a comprehensive and lasting peace in Ukraine, as well as “a concrete roadmap for Russia’s participation in the peace process.”

The Swiss authorities have not yet disclosed the full list of participants.