Switzerland to double funding of Ukraine

MOSCOW. July 5 (Interfax) - Switzerland will step up the funding of Ukraine for the purpose of its recovery, Swiss President Ignazio Cassis said.

Ukrainian media outlets quoted Cassis as saying at the Ukraine Recovery Conference (URC) in Lugano on Tuesday that Switzerland would double the funding to more than 100 million francs before 2023 in the course of bilateral cooperation with Ukraine. At least 15 million francs will be allotted for digital transformation in response to a request from Ukrainian Prime Minister Denys Shmyhal, Cassis said.

In his words, Switzerland also allots funds for Ukraine on the multilateral basis, via the UN, the World Bank, the EBRD and other institutions.

The principles of the Lugano Declaration approved on Tuesday will help Ukraine draw financing of the Recovery plan, Cassis said.