Ukraine and US decide how to launch reconstruction fund envisaged by mineral deal this year

Ukraine's Economy Minister Yuliia Svyrydenko has stated that Ukraine and the United States have discussed how to make the reconstruction investment fund envisaged by the mineral deal operational this year.

As reported by Reuters, Svyrydenko, who is currently on a visit to Washington, also noted that the fund's first meeting is expected in July.

On Wednesday, she held meetings with US Treasury Secretary Scott Bessent and the Development Finance Corporation, which will be a partner of the fund.

"We discussed very concrete steps how to make this fund operational during this year," Svyrydenko told journalists.

According to her, they plan to discuss "what will be the seed capital to start operating this fund" at the first fund's board meeting in July.

"And actually, too, we should adopt the investment strategy for this fund for the next few years," she added.

On 8 May, the Verkhovna Rada (Ukrainian Parliament) voted to ratify the agreement on establishing a joint investment fund between Ukraine and the United States. All 338 MPs voted in favour, with none of them abstaining or voting against ratification.

On 13 May, Ukraine signed two commercial agreements with the US International Development Finance Corporation to advance the ratified agreement on the fund’s creation.