Ukrainian government discloses details of Fund for Reconstruction run by Ukraine and US

Prime Minister of Ukraine Denys Shmyhal has explained how the joint investment fund for the reconstruction of Ukraine with the United States will function.

The Prime Minister said on the air during the national joint 24/7 newscast that the agreement with the United States provides for the creation of an investment fund for reconstruction to deepen the partnership between the United States and Ukraine, achieve lasting peace, and work together to restore Ukraine.

"Ukraine's contribution is a part of our future revenues, which is very important, not existing or previous ones. The future revenues received by Ukraine from rents or licences for minerals, from dividends on infrastructure used for the transportation or extraction of the relevant minerals will be Ukraine's contribution, 50% of such revenues will be invested in this joint fund for the restoration of Ukraine with the United States," Ukrainian PM said.

Shmyhal said that the United States will also make appropriate contributions.

This fund will invest these funds from Ukraine and the United States in Ukraine's development, recovery, and security.

"The fund is jointly managed by the governments of Ukraine and the United States, and the income that is paid into the fund will be reinvested. In other words, the fund will work on a certain spiral of reinvestment in Ukraine. The funds that this fund will invest and earn will be reinvested again and again in the restoration and further development of our country," he added.

In addition, Shmyhal said that the fund will be active, and all decisions will be made with the consent of both participants.

The Prime Minister said that the government would consider the text of the agreement on minerals that Ukraine plans to sign with the United States at a meeting on 26 February and authorise ministers to sign it.

Denys Shmyhal said that the agreement on minerals with the US is directly tied to security guarantees.