The Swiss State Secretariat for Economic Affairs (SECO) has doubled the total funding for the call for applications for Swiss companies in Ukraine to CHF100 million (almost $1.14 million) and extended the deadline for submitting applications until March 31, 2025, the website of the Ministry of Economy of Ukraine reported on Wednesday.

"We received so many applications and saw such active interest from Swiss businesses that the partners decided to expand the program. An additional CHF50 million will be allocated to reconstruction projects in Ukraine in cooperation with Swiss companies. I am sincerely grateful to the partners for this decision, which will contribute to economic recovery," said First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko.

According to her, the program is focused on implementing projects in the areas of civil protection, infrastructure and utilities reconstruction, as well as modernization of public services.

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

The department added that updating the competition conditions does not require re-submission of applications. However, those who have already submitted documents have the opportunity to make changes to their proposals.

The Ministry of Economy noted that the competition is the beginning of the implementation of Switzerland's initiative to support Ukraine for 2025-2028 with a total budget of CHF1.5 billion ($1.7 billion). This, in turn, is the first stage of long-term 12-year support, the total amount of which will be CHF5 billion (almost $5.7 billion).

According to information on the ministry's website, Swiss-Ukrainian cooperation has a long history, which has significantly intensified after the start of the full-scale Russian invasion of Ukraine. The Swiss government announced its readiness for long-term support for Ukraine back in April 2024, announcing the allocation of CHF5 billion 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 CHF50 million for Swiss companies to implement projects in Ukraine.