Switzerland will host the Global Peace Summit and has announced a $1.7B aid package for Ukraine’s recovery.

Swiss President Viola Amherd, after a meeting with Ukrainian President Volodymyr Zelenskyy on January 15, confirmed that the Peace Formula summit can be held in Switzerland. In addition, she announced a new aid package for Ukraine in the amount of 1.5B francs ($1.74B).

“Switzerland is ready to organize a conference. We agreed that we will deal with this issue in depth so that the peace process is successful,” Amherd said.

As for the aid package, according to the Swiss leader it will be provided between 2025-2028.

She added that demining territories is one of the critical elements in Ukraine’s restoration. This is a prerequisite for displaced persons to return to their homes and agricultural lands to return to cultivation. To that end, a corresponding conference will be held in Geneva in October 2024.