Switzerland to return confiscated $1.3 million to Turkmenistan

AKIPRESS.COM - In line with its policy of repatriating illicitly acquired assets, Switzerland is returning approximately USD 1.3 million, which were confiscated in Switzerland, to Turkmenistan.
The funds will be channeled into a health project of the United Nations Development Programme (UNDP), Swiss Federal Department of Foreign Affairs said.
Ambassador Corinne Cicéron Bühler, Head of the Directorate of International Law, signed an according agreement between Switzerland, Turkmenistan and the UNDP on 15 January 2020 in Bern. The restituted funds will part-finance a UNDP project and be used to purchase anti-tuberculosis drugs.
In cooperating on this project Turkmenistan and the UNDP aim to deliver effective, high-quality healthcare, ensuring that the poorest sections of Turkmen society have access to the health services they need.
The selected restitution mechanism is in line with Switzerland's strategy on freezing, confiscating and returning illicitly acquired assets of politically exposed persons ("Asset Recovery"). The restitution of the funds will benefit the population of the country and builds on the principles of transparency and accountability. The restitution also makes a positive contribution to implementing the 2030 Agenda for Sustainable Development.