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Switzerland allocates €5 billion for Ukraine's recovery

Switzerland allocates €5 billion for Ukraine's recovery Photo: Swiss President Viola Amherd (Getty Images)

Switzerland is allocating 5 billion Swiss francs (slightly over 5 billion euros) to restore Ukraine. This money is intended by 2035, with 1.5 billion Swiss francs already allocated for 2028, according to the Swiss government.

The Federal Council adopted this decision on Wednesday, April 10.

Thus, Switzerland "demonstrates solidarity" with those affected and is contributing to increasing stability across Europe.

In particular, these funds will help prevent migration flows. According to the Swiss government, the total cost of reconstruction is estimated at around 440 billion Swiss francs.

According to the World Bank, Ukraine needs 486 billion dollars for reconstruction. This estimate is based on an analysis of damages and needs conducted with Switzerland's joint financing.

Switzerland already supports projects in Ukraine aimed at restoring the destroyed civil infrastructure in the energy, road, and medical sectors.

Switzerland and Ukraine jointly initiated a wide-scale political recovery process at the Ukraine Recovery Conference in Lugano in July 2022.

Switzerland's assistance to Ukraine

Since the beginning of Russia's large-scale invasion, Switzerland has been providing financial and humanitarian support to Ukraine, but not military.

It is explained by Switzerland's policy of neutrality since 1815. Bern does not supply weapons for warfare, does not provide other military assistance, and does not permit the re-export of its weapons to third countries.

Last May, Switzerland took a step towards supplying weapons to Ukraine, but amendments to the law on military equipment were blocked in the lower house of parliament.