Switzerland Commits $1.7 Billion for Ukraine’s Reconstruction Initiatives Over the Next 4 Years

Switzerland plans to allocate 1.5 billion Swiss francs (around $1.7 billion) to support Ukraine’s reconstruction efforts over the next four years, reported Ministry of Communities, Territories and Infrastructure Development of Ukraine citing Swiss Ambassador to Ukraine and Moldova Felix Baumann on October 3.

Out of the total funds, 1 billion will be directed toward local governance, demining efforts, and humanitarian aid in Ukraine, according to Ukraine’s Ministry. The remaining funds will go to recovery programs involving the Swiss private sector.

“To emphasize the seriousness of our intentions, our representative will be working here, who will be responsible for the implementation of this project,” Baumann said during a meeting with head of the Ministry of Communities, Territories and Infrastructure Development Oleksii Kuleba.

Kuleba said that housing for internally displaced people, a group numbering over 4.5 million in Ukraine, is also one of the priorities for cooperation with Switzerland. “We are interested in expanding regional programs, and we believe there is potential to increase our cooperation within Switzerland’s financial commitment,” he added.

Earlier, Lithuania and Sweden commited €22 Million for demining of Ukraine.