First Vice Prime Minister and Minister of Economy of Ukraine Yuliya Svyrydenko posted on her Facebook page that she and her American counterpart Scott Bessent had signed an agreement to establish a Ukraine-US investment fund for the reconstruction of Ukraine.
According to the official, the new fund will attract global investment in Ukraine.
The key provisions of the agreement are as follows:
- Ukraine retains full control over its resources. Ukraine decides what and where to extract, and the minerals remain its property.
- The fund is created on a 50/50 basis. None of the parties will have a voice of preference, and management will be based on equal partnership.
- No changes to the privatisation process or management of state-owned companies – they will remain in the ownership of Ukraine.
- No mention of Ukraine's debt obligations to the United States.
- Full compliance with the Constitution of Ukraine and alignment with national legislation and international obligations. The agreement does not change Ukraine's European integration course.
- The Fund will be filled with revenues from new licences only. Already launched projects or planned revenues are not included in the budget.
- Only changes to the budget code are included. The agreement itself must be ratified by the Verkhovna Rada of Ukraine.
- The United States will help Ukraine attract new investments and technologies.
- The income and contributions of the fund are not subject to taxation in Ukraine or the United States.
- For the first ten years, the fund's profits and revenues will be invested in Ukraine – but this condition will be discussed further.
Earlier, the Prime Minister of Ukraine Denys Shmyhal said on Telegram that the Cabinet of Ministers had made a number of decisions necessary for the signing and operation of the agreement on the reconstruction fund.
- The Prime Minister announced the signing of the agreement during the day on Wednesday.
- Later, US Treasury Secretary Scott Bessent said that the Ukrainian side allegedly wanted to make amendments to the text of the document.
- The President's Office told the media that Kyiv had not proposed any changes.