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The country and Switzerland signed a Memorandum of Understanding as part of efforts to engage the Swiss private sector in recovery and reconstruction projects.
The document was signed by First Vice Prime Minister of Ukraine and Minister of Economy Yulia Svyrydenko and Federal Advisor, Head of the Swiss Federal Department of Economics, Education and Research Guy Parmelin on January 23 during the World Economic Forum in Davos, Ukrinform reports citing the Ministry of Economy.
According to the memorandum, the Swiss State Secretariat for Economic Affairs (SECO) will allocate CHF 50 million for projects of Swiss companies operating in Ukraine. This funding will cover projects in key sectors of the economy where Swiss companies are present in Ukraine.
“Ukraine’s recovery needs are estimated at more than $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,” Svyrydenko said.
According to her, the decision to allocate 50 million francs is part of a broader package of support for development projects. “This memorandum is just the beginning, and we expect more recovery projects to be supported in the future. We encourage Swiss businesses to apply and strengthen their presence in Ukraine,” she added.
At the end of January this year, SECO will start selecting proposals to launch the projects in July 2025. The Government of Ukraine, SECO, and the Embassy of Switzerland in Ukraine will jointly select projects within the first call for proposals based on predefined criteria.
The memorandum also lays the groundwork for the further signing of an Agreement between the governments of Switzerland and Ukraine on technical and financial cooperation in the implementation of public projects from the Unified Public Investment Portfolio approved by the Strategic Investment Council.
As reported, on June 26, 2024, the Swiss federal government announced its intention to allocate CHF 500 million to engage the Swiss private sector in the restoration of Ukraine’s regions. The funds are allocated within the CHF 1.5 billion allocated for Ukraine under the International Cooperation Strategy for 2025-2028. On December 20, 2024, during the adoption of the Confederation budget, the Swiss Parliament finally supported the allocation of 1.5 billion francs under this strategy.
