Switzerland to commit $5.5 billion to Ukraine's reconstruction over 12 years

Switzerland’s Federal Council has approved a plan to allocate $5.5 billion for Ukraine’s reconstruction through 2036, the Swiss government announced on April 10.

At the first stage of the aid program, Switzerland will provide EUR 1.5 billion ($1.6 billion) in 2024-2028.

Read also: Switzerland to provide Ukraine with $1.75 billion in aid

The Federal Council will then consider other sources of funding, including international donors, which would provide the remaining EUR 3.5 billion ($3.8 billion).

According to World Bank estimates, Ukraine's post-war reconstruction would require about $486 billion.

Read also: Switzerland launches first criminal investigation of violating Russia sanctions

To date, Switzerland has allocated $3.3 billion to support Ukrainians affected by the war. In particular, $2.7 billion was allocated to help Ukrainian refugees in Switzerland. Another $463 million was allocated to the targeted Swiss foreign aid budget.

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Read the original article on The New Voice of Ukraine