The Ministry of Finance of Ukraine and the State Secretariat for Economic Affairs of the Swiss Confederation (SECO) have signed a Memorandum of Understanding on the implementation of the project “Fiscal Governance for Local Reconstruction and Recovery” (FG4R).
The document was signed by Ukraine’s Minister of Finance Serhii Marchenko and the Ambassador Extraordinary and Plenipotentiary of Switzerland to Ukraine, Felix Baumann, on behalf of SECO.
The new four-year project will become an important tool for supporting local communities in the process of recovery and modernization. Its goal is to strengthen public financial management at both the national and local levels, ensuring Ukraine’s recovery is transparent, effective, and sustainable.
“The signing of the Memorandum is another confirmation of the strategic partnership between Ukraine and Switzerland. At a time when the full-scale war continues and Ukraine is rebuilding destroyed cities and villages, effective management of local finances is of particular importance. Switzerland’s support will help Ukrainian communities strengthen their financial capacity and implement modern approaches to planning and carrying out reconstruction projects,” said Serhii Marchenko.
The total funding provided by the Swiss Confederation amounts to nearly CHF 7.4 million. The initiative will run until October 2029.
Under the project, Ukrainian communities will receive support to improve budget planning, management of local revenues and debt, development of internal control and audit systems, and greater transparency in budgetary processes. Particular attention will be paid to public investment management, which is a key element in the successful implementation of recovery projects.
For its part, SECO reaffirmed its commitment to continue supporting Ukraine’s reconstruction efforts and the strengthening of institutional capacity at both the national and local government levels.
The project will be implemented by the international company Cowater International Inc., which will work in partnership with the Ministry of Finance of Ukraine, Ukrainian communities, and international experts.
