by The Ukrainian funds available to the Swiss Agency for Development and Cooperation (SDC) for 2022 will not affect projects elsewhere, an official said on Thursday. Before the Russian invasion in February, the SDC had earmarked CHF25 million ( million) for development and cooperation projects in Ukraine; parliament has since boosted this by CHF61 million, SDC director Patricia Danzi said on Thursday. On top of this, various other ministries have sent development aid to the region directly or indirectly, the Keystone-SDA news agency reports: Swiss migration authorities contributed CHF6 million to help refugees in Poland, while the economics ministry has given CHF20 million to multilateral projects coordinated by the World Bank. As for the SDC, Danzi said that the
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Business, Featured, newsletter
This could be interesting, too:
Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?
Per Bylund writes Bitcoiners’ Guide to Austrian Economics
Connor O'Keeffe writes The Establishment’s “Principles” Are Fake
Ron Paul writes What Are We Doing in Syria?
The Ukrainian funds available to the Swiss Agency for Development and Cooperation (SDC) for 2022 will not affect projects elsewhere, an official said on Thursday.
Before the Russian invasion in February, the SDC had earmarked CHF25 million ($26 million) for development and cooperation projects in Ukraine; parliament has since boosted this by CHF61 million, SDC director Patricia Danzi said on Thursday.
On top of this, various other ministries have sent development aid to the region directly or indirectly, the Keystone-SDA news agency reports: Swiss migration authorities contributed CHF6 million to help refugees in Poland, while the economics ministry has given CHF20 million to multilateral projects coordinated by the World Bank.
As for the SDC, Danzi said that the extra credit allocated by parliament means the agency can boost its projects in Ukraine while not being forced to pull out of other areas of the world – many of which are suffering the consequences of the conflict in Europe, for example via the threatened food shortages in Sub-Saharan Africa.
According to the SDC websiteExternal link, the four priority areas for Swiss development cooperation in Ukraine for the 2020-2023 period are local governance and peacebuilding, sustainable economic development, health issues, and providing humanitarian aid.
Humanitarian needs
Since the outbreak of war, however, the elements within these priorities are being “adapted to the new circumstances”, while humanitarian aid has become more present, with the Swiss sending supplies as well as providing financial support to humanitarian organisations working on Ukraine.
In March, the government also announced a CHF80 million humanitarian aid package for Ukraine.
Switzerland will also host next month in the southern city of Lugano the international “Ukraine Recovery ConferenceExternal link” (renamed from the previously planned “Reform Conference”), where diplomats and politicians will discuss “Ukraine’s reconstruction and development programme and on contributions from international partners”.
You Might Also Like
Covid loan claims fuel rise in suspected fraud cases
2022-05-04
The number of reported suspicious financial transactions continued to rise in Switzerland in 2021, but at a lower rate than in the first year of the pandemic.
Swiss trade unions sound alarm about rising cost of living
2022-04-22
Trade unions say middle- and lower-income workers in Switzerland are facing a “shock” in 2022, with wages unable to offset rising inflation and health insurance costs.
Impact of Swiss finance sector on country’s GDP waning
2022-04-21
The contribution of Switzerland’s finance industry to the country’s gross domestic product (GDP) has decreased over the past ten years.
Ukraine refugees struggle to exchange cash into Swiss francs
2022-04-04
Thousands of Ukrainian refugees are finding that Swiss banks are refusing to convert the cash they brought with them into francs.
The Swiss banker managing Senegal’s first private bank
2022-01-24
After working in finance in Geneva for 15 years, Olivier Santi emigrated to Dakar in 2017 to head a new bank founded by one of Senegal’s richest businessmen. His career to date demonstrates both the central role Switzerland plays in the finance and raw materials sectors, and the vitality of West Africa’s banking sector.
Swiss central bank forecasts CHF26bn annual profit
2022-01-11
The Swiss National Bank (SNB) expects to post a profit of CHF26 billion ($28 billion) for 2021, a windfall made exclusively from its growing foreign currency holdings.
Falcon bank fined for money laundering, ex-CEO acquitted
2021-12-18
A Swiss court has found the Zurich-based Falcon Private Bank guilty of money-laundering offences. The Federal Criminal CourtExternal link on Wednesday ordered the Abu Dhabi-owned bankExternal link to pay a fine of CHF3.5 million ($3.8 million) for failing to set up the necessary controls. It was the first time that a Swiss bank was taken to court over accusations of money laundering.
Why Switzerland props up its ailing sugar industry
2021-12-11
Every year from October to December more than 1.5 million tonnes of sugar beets grown in Switzerland are harvested to supply the country’s sugar industry – an industry being kept alive by massive government subsidies. SWI swissinfo.ch reports from Aarberg, home to the country’s largest sugar factory.
Tags: Business,Featured,newsletter