Switzerland Extends $2.9 Million Annual Funding for Davos WEF

(Bloomberg) — Switzerland agreed to extend support for the annual meetings of the World Economic Forum in Davos.

The government in Bern will deploy up to 5,000 army members and give financial assistance of 2.55 million francs ($2.9 million) annually in the 2025-27 period, it said in a statement on Wednesday.

The overall bill of security at the event — attended by titans of politics and industry — has risen in recent years due to concerns about terrorism and greater logistical expenses. The outlays are shared by the town, the canton of Graubuenden, the WEF itself and the government, which shoulders about quarter of the cost.

“The members of the Federal Council consider the WEF annual meeting to be an important platform,” it said. “It offers Swiss representatives the opportunity to make numerous contacts with high-ranking people and to represent Swiss positions and concerns to foreign partners.”

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