Switzerland doubles funding for Ukraine recovery support programme, extends application deadline

The Swiss State Secretariat for Economic Affairs (SECO) has increased the total funding for Swiss companies in Ukraine to CHF 100 million (approximately USD 1.14 million) and extended the application deadline until March 31, 2025, the website of the Ministry of Economy of Ukraine reports.

“We have received many applications and have noticed a high interest from Swiss businesses, so our partners have decided to expand the program. An additional 50 million Swiss francs will be allocated for restoration projects in Ukraine jointly with Swiss companies. I am sincerely grateful to our partners for this decision, which will contribute to the restoration of the economy,” said First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko.

According to her, the program is aimed at implementing projects in the field of civil defense, reconstruction of infrastructure and utility networks, as well as modernization of public services.

It is specified that the competition is addressed to Swiss companies that have a legal entity in Ukraine and can make a significant contribution to the restoration and creation of added value for the Ukrainian economy.

The department added that updating the terms of the competition does not imply re-submission of applications. However, those who have already submitted documents have the opportunity to change their proposals.

The Ministry of Economy noted that the competition is the beginning of the implementation of the Swiss initiative to support Ukraine for 2025-2028 with a total budget of 1.5 billion Swiss francs (1.7 billion US dollars). This, in turn, is the first stage of long-term 12-year support, the total volume of which will be 5 billion Swiss francs (almost 5.7 billion US dollars).

According to the information on the ministry's website, Swiss-Ukrainian cooperation has a long history, which has intensified significantly since the start of the full-scale Russian invasion of Ukraine. The Swiss government announced its readiness to provide long-term support to Ukraine back in April 2024, announcing the allocation of 5 billion Swiss francs over the next 12 years.

In January 2025, during the World Economic Forum in Davos, a memorandum was signed between Ukraine and Switzerland on the allocation of the first 50 million Swiss francs to Swiss companies for the implementation of projects in Ukraine.