The Cabinet of Ministers has approved the signing of an agreement between Ukraine and the United States to establish a Reconstruction Investment Fund.
This was announced by Prime Minister Denys Shmyhal on Telegram, Ukrinform reports.
“Today, the Government is approving the decisions necessary to sign an agreement between Ukraine and the United States on the establishment of a Reconstruction Investment Fund,” he said.
Shmyhal clarified that the agreement will have six key provisions. According to the first position, Ukraine and the United States are establishing a Reconstruction Investment Fund, which will be jointly owned and jointly managed by the governments of both countries.
At the same time, Ukraine’s minerals and resources remain Ukrainian, and are not transferred to the United States or anyone else.
Third, Ukraine will contribute to the Fund 50% of revenues earned from its natural resource assets.
Fourth, the United States will contribute to the Fund in the form of funds, financial instruments, and other assets critical to Ukraine’s reconstruction.
According to the fifth position, the money raised by the Fund will be invested exclusively in projects for the reconstruction of Ukraine. The Prime Minister stressed that this is a fund for future generations of Ukrainians.
“Sixth, another important point is that the agreement takes into account our obligations within the European integration process. That is, there will be no contradictions and inconsistencies with our European integration obligations,” Shmyhal added.
As Ukrinform reported, the U.S.-Ukraine agreement on critical minerals is a framework deal, and further work will be done on the Investment Reconstruction Fund Treaty, which will require ratification by the Ukrainian Parliament.
Photo: Cabinet of Ministers
Source: Government approves signing of U.S.-Ukraine deal on minerals – PM Shmyhal
