Switzerland to double funding for Ukraine's recovery projects to CHF 100 mln – agreement signed

First Deputy Prime Minister and Minister of Economy of Ukraine, Yulia Svyrydenko, and Swiss Federal Council Delegate for Ukraine, Ambassador Jacques Gerber, have signed an agreement amending the Memorandum of Understanding between Ukraine's Ministry of Economy and the Swiss State Secretariat for Economic Affairs (SECO). The amendment provides for a twofold increase in funding for Ukraine's recovery projects, raising the total amount to CHF 100 million.

As reported by the Ministry of Economy on Tuesday, the agreement formalizes Switzerland's decision to expand its support for the competition for recovery projects in Ukraine. This initiative involves Swiss companies that are already active in Ukraine and able to contribute to the country's reconstruction.

According to both parties, the level of interest from the Swiss business community was so strong that it prompted the decision to double the funding.

"The strong interest from Swiss businesses sends a clear signal: our intergovernmental agreements are delivering results. An additional CHF 50 million will be allocated to projects aimed at protecting the civilian population, rebuilding infrastructure, developing municipal services, and modernizing public services. We are particularly interested in expanding cooperation in energy, transport, housing construction, water supply, healthcare, industrial engineering, and education," Svyrydenko was quoted as saying by the ministry's press service.

The signed agreement paves the way for new joint projects under the intergovernmental initiative launched in early 2025. The funds are part of a broader Swiss assistance program for Ukraine totaling CHF 1.5 billion for the period 2025-2028. In total, Switzerland plans to invest CHF 5 billion in a 12-year support program.

Gerber emphasized that the decision to boost funding is a direct outcome of the close and trusting partnership between Ukraine and Switzerland.

"Last week, I visited Chernihiv, and last year I witnessed the scale of destruction in Kharkiv. Ukraine's needs for recovery and reconstruction are immense. At the same time, Swiss companies continue to operate in Ukraine despite all the challenges. They are creating jobs and paying taxes into Ukraine's state budget. They are also eager to contribute to the country's recovery," Gerber explained.

The Ministry of Economy recalled that the original memorandum with SECO on launching the competition for economic recovery and reconstruction projects in cooperation with Swiss companies was signed on January 23, 2025, during the World Economic Forum in Davos.

The ministry added that Switzerland remains one of Ukraine's key partners in reconstruction efforts. In April 2024, the Swiss government announced its long-term support program for Ukraine, with a total budget of CHF 5 billion over 12 years.