GENEVA, July 11. /TASS/. Swiss Ambassador and delegate of the Federal Council for Ukraine Jacques Gerber and Ukrainian Economy Minister Yulia Sviridenko have signed a bilateral agreement on cooperation for the country’s reconstruction at a conference currently underway in Rome.
"The treaty, approved by the Federal Council on June 25, provides a legal basis for greater involvement of Swiss private enterprises in Ukraine’s reconstruction projects and underscores Switzerland’s long-term commitment to this mission," the text states.
In February, Bern decided to allocate 1.5 billion Swiss francs ($1.65 billion) for Ukraine’s rebuilding efforts between 2025 and 2028, as part of a 12-year program supporting the country’s reconstruction, reforms, and sustainable development. About one-third of these funds — 500 million francs – are earmarked for projects in cooperation with Swiss companies.
Under the broader plan, Kiev is set to receive a total of five billion francs ($5.55 billion) in financial support from Bern between 2024 and 2036.
The Italian newspaper Il Fatto Quotidiano described the Rome conference on Ukraine’s reconstruction as "an event devoid of weight and significance." The daily noted that the only meaningful aspect for Italy and Prime Minister Giorgia Meloni was the presence of European Commission President Ursula von der Leyen.
At the conference, it was announced that a new European fund would be established to attract €10 billion in investments for Ukraine’s reconstruction.
According to World Bank estimates, Ukraine will need $500 billion over the next 10 years to rebuild. Euractiv calculated that the most severely affected sectors are housing ($57 billion), the transportation network ($36 billion), and the energy and mining sector ($20 billion).