Ukraine is ready to contribute UAH 3 billion to the joint reconstruction fund with the U.S. How it will work

Recent weeks and months have been difficult for Cabinet of Ministers officials. The joint agreement between Ukraine and the United States on minerals raises many questions. The document has been rewritten several times, and little is officially said about its content.

In early May, the Cabinet of Ministers finally signed an agreement with the United States to create a joint investment fund. And this morning, First Deputy Prime Minister Yulia Svyrydenko held a press conference where journalists could hear how the new investment fund will work, how it will be filled from both sides, and whether it will affect the issuance of mining licenses.

LIGA.net publishes abstracts of speeches by representatives of the Ministry of Economy on how the Fund will work in practice, be filled with money, managed, receive and distribute profits, who will be able to receive investments from it to implement their projects, and what Ukraine should change in its legislation to make the Fund work.

How the fund will be filled

Contributions to the fund will be made jointly by the U.S. and Ukraine. The U.S. will contribute by providing military assistance to Ukraine, or in other ways at its discretion.

Ukraine will make contributions to the fund by allocating part of the budget revenues received through rent payments for subsoil use and issuance of licenses for mineral extraction. Only money from newly issued licenses will be paid into the Fund, and old or dormant licenses will not be touched.