Support for Ukraine’s Reconstruction: European Partners Increase Funding

Ukraine and Switzerland have signed an agreement that provides for a significant increase in funding for reconstruction projects, which will now amount to CHF100 million (approximately $116.7 million). This decision is formalized in a memorandum between the Ministry of Economy of Ukraine and the Swiss State Secretariat for Economic Affairs (SECO).

This is reported by AgroReview

According to the document, Switzerland plans to double its support for a project competition involving Swiss companies that are already doing business in Ukraine and can contribute to its recovery. An additional CHF50 million will be allocated for projects in the areas of civilian protection, infrastructure restoration, development of public services, and modernization of government services. These funds are part of a larger program totaling CHF1.5 billion, planned for 2025-2028.

Switzerland intends to invest a total of CHF 5 billion in a support program that will last for 12 years. Additionally, the countries have signed a memorandum of cooperation aimed at restoring affected regions and communities.

The European Investment Bank is also providing Ukraine with €300 million for the restoration of energy and critical infrastructure. Furthermore, Norwegian businesses plan to join in the post-war reconstruction of Ukraine, focusing on investment projects that include ports, maritime infrastructure, as well as the restoration of housing, roads, railways, and industrial zones.