Ukraine and the United States have signed an agreement to establish a Reconstruction Investment Fund.
Ukraine’s Deputy Prime Minister and Economy Minister, Yulia Svyrydenko, announced this on Facebook, according to Ukrinform.
“As agreed by President Volodymyr Zelensky and President Donald Trump, together with U.S. Treasury Secretary Scott Bessent, I signed the Agreement on the Establishment of a United States-Ukraine Reconstruction Investment Fund,” the post reads.
According to Svyrydenko, the agreement provides for the creation of a joint fund with the U.S. that will attract global investment into the country.
She outlined the key provisions of the agreement:
- Full ownership and control remain with Ukraine.
All resources on our territory and in territorial waters belong to Ukraine. It is the Ukrainian state that determines what and where to extract. Subsoil remains under Ukrainian ownership — this is clearly established in the Agreement.
- Equal partnership.
The Fund is structured on a 50/50 basis. It will be jointly managed by Ukraine and the United States. Neither side will hold a dominant vote — a reflection of equal partnership between the two nations.
- National assets are protected.
The Agreement does not alter privatization processes or the management of state-owned companies — they will remain Ukrainian. Companies such as Ukrnafta and Energoatom will stay in state ownership.
The Agreement includes no provisions regarding any Ukrainian debt obligations to the United States. Its implementation allows both countries to expand their economic potential through equal cooperation and investment.
- The Agreement complies with the Constitution and maintains Ukraine’s European integration course.
It is consistent with national legislation and does not conflict with any of Ukraine’s international obligations. Importantly, the Agreement sends a signal to global partners that long-term cooperation with Ukraine — over decades — is not only possible but reliable.
- The Fund will be financed exclusively from new licenses.
Specifically, 50% of the revenues from new licenses in the field of critical materials, oil, and gas — generated after the Fund is created — will be directed to it. Revenues from existing projects or those already accounted for in the budget will not be included. The Agreement also outlines future strategic cooperation.
- Legislative changes will be limited and targeted.
Only amendments to the Budget Code are required for the Fund to operate. The Agreement itself will be submitted to the Verkhovna Rada for ratification.
- The United States will help attract additional investment and technology.
The Fund is supported by the U.S. government through the DFC agency. This will assist us in attracting investments and technologies from U.S., EU, and other international partners that support Ukraine’s fight against the Russian aggressor. Technology transfer and development are a key part of the Agreement — because Ukraine needs not only capital, but also innovation.
- The Agreement provides tax guarantees.
Fund revenues and contributions will not be taxed in either the United States or Ukraine, ensuring maximum effectiveness of the investment process.
Svyrydenko also explained how the Fund will operate.
- The United States will contribute to the Fund. In addition to direct financial contributions, it may also provide new assistance — for example, air defense systems for Ukraine.
- Ukraine will contribute 50% of state budget revenues from new rent on new licenses for new areas. Ukraine may also make additional contributions beyond this baseline if it chooses. This is cooperation designed to last for decades.
- The Fund will then invest in extraction projects for critical materials, oil, and gas — as well as in related infrastructure and processing. Specific investment projects will be selected jointly by Ukraine and the U.S. Importantly, the Fund may invest exclusively in Ukraine.
- It is expected that for the first ten years, Fund profits and revenues will not be distributed, but instead reinvested into Ukraine — into new projects or reconstruction. These terms will be subject to further discussion.
“We have shaped an agreement that provides mutually beneficial conditions for both countries. The US affirms its commitment to long-term peace in Ukraine and acknowledges Ukraine’s contribution to global security — including its decision to give up nuclear weapons. It is an Agreement that reaffirms the United States of America commitment to Ukraine’s security, recovery, and reconstruction,” Svyrydenko added.
She expressed gratitude to both Presidents for their leadership and to all those who worked to make the agreement more substantial.
“It is now a document capable of delivering success for both our countries — Ukraine and the United States of America,” she wrote.
Earlier reports said that the Ukrainian government had approved the necessary steps to sign the agreement with the U.S. on establishing the Reconstruction Investment Fund.
On April 17, Ukrainian and American representatives signed a memorandum confirming their shared intent to conclude a mutually beneficial economic partnership. The agreement itself still requires finalization and ratification by both countries’ legislatures.
Photo credit: Yulia Svyrydenko / Facebook
