Rada ratifies minerals deal with the U.S.: unanimous support with 338 votes in favor
On Thursday, May 8, the Verkhovna Rada ratified the Agreement between the Government of Ukraine and the Government of the United States of America on the establishment of the U.S.-Ukraine Reconstruction Investment Fund, signed on April 30.
The decision was adopted unanimously, with 338 votes in favor. None of the MPs who participated in the vote abstained or voted against.
"This agreement strengthens the strategic partnership between the parties for the long-term reconstruction and modernization of Ukraine, in response to the extensive destruction caused by Russia's full-scale invasion and in pursuit of a peaceful, sovereign, and resilient Ukraine," the document states.
Contributions to the fund will be made jointly by the United States and Ukraine. The U.S. will contribute through military assistance or by other means at its discretion.
Ukraine will contribute to the fund by allocating a portion of its budget revenues generated from rent payments for subsoil use and the issuance of mineral extraction licenses.
Following the ratification of the agreement establishing the fund, two additional agreements will be concluded: the Limited Partnership Agreement and the Agreement defining the fund's operating principles.
These new agreements will not be intergovernmental (thus will not require further ratification) but will be commercial in nature, between two legal entities: the U.S. International Development Finance Corporation (DFC) and the Ukrainian Agency for the Support of Public-Private Partnerships (PPP).
- Positive expectations from the agreement with the US prevail in Ukrainian society. 47% of Ukrainians believe that the agreement will rather have a positive impact on Ukraine.
