The Cabinet of Ministers has taken the practical step needed to “turn on” the American-Ukrainian Investment Fund: the government approved a resolution that explains how the agreements with the United States will actually be implemented. The Ministry of Economy, Environment and Agriculture says this document is what makes the bilateral agreement workable — it gives investors a transparent procedure, defines who talks to whom, and under what conditions money can go into Ukrainian projects.
What the resolution does
The government paper is not about politics, but about mechanics. It:
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defines which projects fall under the agreement — first of all, in subsoil use (critical minerals, extraction, processing) and infrastructure;
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describes the financing routes — through cooperation with the Reconstruction Fund and the Public-Private Partnership Agency;
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sets mandatory conditions for participants when attracting investments and selling extracted products;
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creates transparent rules of interaction with counterparties so that Ukrainian businesses understand requirements in advance.
In other words, if earlier the agreement with the U.S. was a framework promise “we will invest together,” now there is a Ukrainian procedure that tells investors: here is the list of eligible projects, here are the state institutions you will work with, here are the rules.
Why this matters
Deputy Minister Yehor Perelyhin called the resolution “an important step in practical implementation.” That’s not diplomatic fluff: large foreign capital won’t go into subsoil, energy or ports if there’s no clear national procedure — who approves, how revenue is shared, what you can export, how PPP is arranged.
Now this is laid out, which means:
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Strategic sectors open up — critical minerals (titanium, lithium, other inputs for green and defense industries), energy, infrastructure, high tech.
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Projects can be structured under PPP — the state brings assets or rights, the investor brings money and technology.
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The U.S. side gets predictability — American financial institutions and development structures see that there is a Ukrainian government mechanism, not just a political declaration.
Link to subsoil and reconstruction
The resolution directly mentions subsoil use. This is the sensitive part of the economy where Ukraine wants two things at once:
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attract Western capital and technologies;
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keep control over how resources are extracted and sold.
That’s why the document adds conditions for participants — you can attract money, but you must adhere to the rules for selling extracted products and cooperate with designated Ukrainian entities. This protects the state and, at the same time, makes projects bankable for U.S. partners.
What happens next
Now sectoral ministries and project initiators can start bringing specific projects under this mechanism — in energy recovery, logistics, port and rail infrastructure, and, most importantly, in critical minerals. For business, this is a signal: the American-Ukrainian Investment Fund is no longer just a headline, it has an administrative “entrance” inside the Ukrainian system.
