Swiss upper house rejects $5.58bn aid plan for Ukraine
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Switzerland's upper house of parliament has rejected a 5 billion Swiss franc ($5.58 billion) aid plan for Ukraine, over concerns it would breach the neutral country's borrowing restrictions, it was reported on June 3.
The aid was part of a wider 15 billion Swiss franc plan that also contained 10.1 billion francs for the Swiss military but had faced opposition from lawmakers on the right and was expected to be defeated, despite being backed by a Swiss parliamentary committee on April 25.
Twenty-eight lawmakers voted against and 15 voted in favor, Reuters reports.
Switzerland's Federal Council announced the plans in April, saying the funds would be allocated to support Ukraine's economic development and reconstruction.
The package was supported by lawmakers from both center-right and center-left parties.
While refusing to supply Kyiv with military aid on account of its long-term neutrality policy, Switzerland has provided economic and humanitarian support worth over $3 billion.
Switzerland also hosted the 2022 Ukraine Recovery Conference in Lugano, which laid down principles for Ukraine's reconstruction and recovery.
Switzerland is also set to host the global peace summit on June 16-17 in Lucerne.
The country is also reportedly ramping up efforts to prevent companies and individuals from using the country to circumvent sanctions imposed against Russia.
