Ukrainian government discloses details of joint Ukraine-US Reconstruction Fund

Prime Minister of Ukraine Denys Shmyhal has explained how the joint Ukraine-US investment fund for the reconstruction of Ukraine will work.

Source: Shmyhal during the national joint 24/7 newscast, as reported by European Pravda

Details: The Prime Minister said the agreement with the United States provides for the creation of a reconstruction investment fund to deepen the partnership between the United States and Ukraine and achieve lasting peace, and in order that the two countries can work together to rebuild Ukraine.

Quote from Shmyhal: "Ukraine's contribution is 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 with the United States for the reconstruction of Ukraine."

Details:  Shmyhal said the United States will also make appropriate contributions.

The fund will invest these contributions from Ukraine and the United States in Ukraine's development, reconstruction and security.

Quote from Shmyhal: "The fund is jointly managed by the governments of Ukraine and the United States, and the revenues paid into the fund will be reinvested. In other words, the fund will work in a spiral of reinvestment in Ukraine. The money that this fund will invest and earn will be reinvested again and again in the reconstruction and further development of our country."

Shmyhal also said that the fund will operate and all decisions will be made with the consent of both participants.

Background: 

• The Prime Minister said that the government will consider the text of the minerals agreement that Ukraine plans to sign with the United States at a meeting on 26 February and will authorise ministers to sign it.
• Shmyhal said the agreement is directly tied to security guarantees.

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