The majority of the money will be used to help finance the rebuilding of houses, commercial buildings and infrastructure, reported news agency ATS.
Fifty-five families and small businesses have already received a total of 164,000 francs in immediate aid, according to Swiss Solidarity, which collects public donations for relief work.
The village of Bondo in the Val Bregaglia was hit by a wave of rock, mud and debris on August 23rd after a huge section of the Piz Cengalo detached from the mountain.
Eight hikers went missing, presumed dead, in the landslide, though thankfully no one was injured or killed in the village as an early warning system allowed for its evacuation.
Nevertheless, houses and roads were destroyed or damaged in the landslide and the village remained uninhabitable.
Another landslide a few days later hit the village again, as well as the nearby hamlets of Spino, Promontogno and Sotoponte.