Ukraine and the United States to create a Reconstruction Investment Fund for Ukraine, attracting global investments into the country, with the agreement signed by First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, and U.S. Secretary of the Treasury, Scott Bessent, on Wednesday in Washington.
"The fund will be replenished exclusively from NEW licenses. This refers to 50% of funds from new licenses for projects in critical materials, as well as oil and gas, that will be directed to the budget after the fund is established. Revenues from already initiated projects or planned budget revenues are not included in the fund," Svyrydenko noted in a Facebook post.
She explained that besides direct funds, the U.S. can contribute to the fund with new assistance—such as air defense systems for Ukraine.
"Ukraine will contribute 50% of the state budget's revenue from the NEW rent on NEW licenses for NEW sites. Ukraine may also make additional contributions beyond this basic one if deemed necessary. This is a cooperation for decades ahead," emphasized the First Deputy Prime Minister.
According to her post, the fund will then invest in projects related to the extraction of minerals, oil, and gas, as well as in related infrastructure or processing. Specific investment projects that the funds will be directed towards will be determined jointly by Ukraine and the U.S.
"It is important that the fund can invest only in Ukraine. We expect that during the first 10 years, profits and revenues from the fund will not be distributed, but can only be invested in Ukraine—in new projects or reconstruction. These conditions will be discussed further," added Svyrydenko.
She mentioned that the agreement stipulates that full ownership and control remain with Ukraine.
"All resources in our territory and territorial waters belong to Ukraine. The Ukrainian state determines where and what to extract. Subsoil remains under Ukrainian ownership—this is fixed in the agreement," the First Deputy Prime Minister emphasized.
According to her, the condition of the agreement is equal partnership: the fund is created on a 50/50 basis.
"We will jointly manage this fund with the U.S. Neither party will have a dominant vote, and this will reflect the equal partnership between Ukraine and the United States," explained Svyrydenko.
She added that the agreement does not imply changes to privatization processes or the management of state-owned companies such as "Ukrnafta" or "Energoatom"—they will remain under Ukraine's control. She clarified that the fund will be replenished exclusively from new licenses: specifically, 50% of funds from new licenses for projects in critical materials and oil and gas that will go to the budget after the fund is created.
"The agreement does not mention any debt obligations of Ukraine to the U.S. The implementation of the agreement will allow both countries to increase their economic potential through equal cooperation and investments," noted the First Deputy Prime Minister.
She also pointed out that the agreement complies with the Constitution and does not change Ukraine's Eurointegration course.
"It is important that the agreement will signal to other global players that long-term cooperation with Ukraine is reliable—for decades," wrote Svyrydenko.
According to her, for the fund's operation, only amendments to the Budget Code are required, and the agreement itself must be ratified by the Verkhovna Rada.
The fund is supported by the U.S. government through the DFC agency, which will help attract investments and technologies from funds and companies in both the U.S. and the EU, as well as other countries supporting Ukraine’s fight against the Russian enemy, the First Deputy Prime Minister emphasized.
She added that the agreement provides tax guarantees: income and contributions to the fund will not be taxed either in the U.S. or Ukraine, to maximize the results of investment.
"We have developed a version of the agreement that provides mutually beneficial terms for both countries. This is an agreement where the U.S. highlights its commitment to achieving long-term peace in Ukraine and recognizes the contribution Ukraine made to global security by renouncing its nuclear arsenal. This is an agreement where the U.S. expresses its dedication to Ukrainian security, reconstruction, and recovery," Svyrydenko concluded.
