US-Ukraine Reconstruction Investment Fund could start operating within months – Ukraine's economy minister

The US-Ukraine Reconstruction Investment Fund, which is being created within the framework of the mineral resources deal, may begin operating just a few months after its ratification in the Verkhovna Rada (Ukrainian Parliament).

Source: Suspilne with reference to Yuliia Svyrydenko, First Deputy Prime Minister and Economy Minister, during a meeting with journalists in Washington

Details: Svyrydenko believes the final launch of the fund will be possible after the ratification of the relevant intergovernmental agreement in the Verkhovna Rada.

Quote: "Our task is to do this as quickly as possible, but it is very difficult to predict at the moment. I think it will take months, definitely not years. We are talking about months. And, of course, we want to resolve all the other technical issues related to the funds."

Details: According to Ukrainian MP Yaroslav Zhelezniak, the vote on ratification may take place during the plenary week of 13-15 May. After that, two additional agreements will be concluded – one concerning the creation of the fund as a legal entity and the other regarding the technical aspects of its operations.

Background:

• On the night of 30 April-1 May, marking the end of Donald Trump's hundredth day in office, Ukraine and the United States signed the mineral resources deal.
• On 1 May, the Cabinet of Ministers of Ukraine submitted to the Verkhovna Rada a draft law on ratification of the agreement between Ukraine and the United States regarding the establishment of the US-Ukraine Reconstruction Investment Fund.
• On 30 April, Ukrainian Prime Minister Denys Shmyhal stated that the mineral resources deal would be subject to mandatory ratification in the Ukrainian parliament, whereas in the United States, a Congressional vote at this stage is not required.

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