Switzerland's Strategic Investment in International Geneva

Switzerland allocates 269 million Swiss francs to strengthen Geneva's role as a hub for international diplomacy amidst financial pressures on global institutions. The investment aims to maintain Geneva's pivotal role in Swiss foreign policy and global governance. The fund spans 2025-2029 with plans to request parliamentary approval.

Devdiscourse News Desk | Updated: 20-06-2025 21:29 IST | Created: 20-06-2025 21:29 IST

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Switzerland has announced a significant investment of 269 million Swiss francs to bolster Geneva's position as a key center for international diplomacy. This decision comes as global institutions face financial strain due to reduced spending and donations.

The Swiss government aims to reinforce Geneva's essential role in both its foreign policy and global governance. The investment is forward-looking, as stated by Foreign Minister Ignazio Cassis, who emphasized its significance for a law-based global order.

The funds will cover the period from 2025 to 2029, with an immediate request of 130.4 million francs for parliamentary approval. Geneva hosts over 40 international bodies, making this financial boost crucial amidst budget cuts and potential relocations.

(With inputs from agencies.)