Switzerland allocates $55 million to restore Ukraine through projects of its companies, - Svyrydenko
Ukraine and Switzerland have signed a memorandum of understanding under which the Swiss government will provide $55 million to finance reconstruction projects in Ukraine through local companies.
This was reported by Censor.NET with reference to the Ministry of Economy.
As part of the memorandum, the Swiss State Secretariat for Economic Affairs will allocate $55 million (equivalent to 50 million Swiss francs) for projects implemented by Swiss companies in Ukraine. These funds will be directed to key sectors of the economy where Swiss businesses operate.
"Ukraine's recovery needs are estimated at over $500 billion. We hope that the private sector will be the driving force behind this recovery. Ukraine highly appreciates the contribution of Swiss business to support our economic resilience. Before the full-scale invasion, Switzerland was one of the five leading investor countries in Ukraine's economy," said Economy Minister Yuliia Svyrydenko.
The memorandum stipulates that SECO will start selecting projects at the end of January 2025. The Government of Ukraine, SECO and the Swiss Embassy will jointly select proposals for funding. The first projects will start in July 2025.
As a reminder, on Tuesday, January 21, President Volodymyr Zelenskyy met with President of Switzerland Karin Keller-Sutter to discuss finding ways to achieve a just and lasting peace for Ukraine and the whole of Europe.
