What Was Ratified
The Verkhovna Rada has approved the Agreement on the Establishment of the US-Ukrainian Investment Fund for Reconstruction and Cooperation in the Mineral Sector. The document now has full legal force, clearing the way for joint governance and capitalisation.
Core Features of the Fund
| Pillar | Details |
|---|---|
| Equal control | Board seats are split 50-50. All decisions require consensus, preventing either side from pushing unilateral terms. |
| Ukrainian ownership | Subsoil rights, infrastructure and resources remain state property. The Fund receives only economic proceeds. |
| No sovereign debt | Ukraine incurs zero new loans; contributions are equity or grants, not credit lines. |
| Revenue stream | 50 % of royalties, licence fees and production-sharing gains from new extraction projects flow into a special budget account, then into the Fund. |
| US contribution options | Washington can match Ukraine’s input with direct financing or convert portions of military aid into equity stakes. |
Where the Money Will Go
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Critical minerals
Exploration, sustainable mining and processing of lithium, titanium, rare-earths and other listed strategic inputs. -
Energy security
Modern gas infrastructure, renewables, grid resilience and domestic fuel production. -
Transport & logistics
Ports, rail corridors, highways and digital customs solutions that link Ukraine to EU markets. -
Industrial localisation
Value-added processing plants and technology transfer to move Ukraine up the supply chain.
Expected Timeline
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Summer 2025: regulatory bylaws finalised, management team appointed.
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Autumn 2025: first capital commitments, initial project pipeline announced.
Economic Impact
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Crowds in private investors by de-risking projects through US and Ukrainian state backing.
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Generates hard-currency revenue without mortgaging state assets or raising public debt.
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Strengthens EU accession path: rules align with European environmental, procurement and transparency standards.
Geopolitical Signal
US Treasury Secretary Scott Bessant calls the pact “a full-fledged economic partnership” that positions Kyiv to negotiate from strength and cements Washington’s long-term stake in Ukraine’s recovery.
