A CHF 50m foundation to help international Geneva is being set up by the canton and the Wilsdorf Foundation.
The cantonal finance minister, Nathalie Fontanet, says the aim of the foundation is to ‘support a crucial sector and help it reorganize itself.
The legal process to set it up is now underway. While it is expected to pass in the cantonal Grand Council, there is still a chance it could be forced to a referendum. The Swiss People’s party objected to an initial CHF 10m package in February.
It’s hoped the creation of the foundation will also attract other sources of funding.
The former federal councillor, Martine Brunschwig Graf, has been named as its head.
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