Kyiv and Washington have completed all procedures to begin work on the joint Recovery Fund. It has been officially launched.
This was reported by the First Deputy Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko.
She said that the final step was a diplomatic note from the United States, which the official personally received on the morning of May 23 from the US Chargé dʼAffaires ai to Ukraine Julie Davis.
Subsoil Agreement
On May 1, Ukraine and the United States signed an agreement on subsoil resources — that is, on the creation of a Reconstruction Investment Fund between the United States and Ukraine, which will attract global investments to our country.
The fund is a key instrument of cooperation between the United States and Ukraine for the countryʼs post-war reconstruction and its integration into the global economy. More information about the agreement is available here and here.
The signing of the agreement was preceded by months of political battles between Ukraine and the U.S. Ukrainian Economy Minister Yulia Svyrydenko noted that in the end, a version of the agreement was formed that provides for mutually beneficial conditions for both countries.
On May 6, the Verkhovna Rada Committee on International Policy recommended ratifying the minerals agreement. However, on May 7, the Committee voted down the decision — a text was added to the preamble of the resolution, stating that the deputies had not seen other agreements concluded along with the general minerals agreement.
On May 13, the Verkhovna Rada voted in the first reading on draft law No. 13256, which provides for amendments to the Budget Code to implement the Minerals Agreement.
In the evening of the same day, it became known that Ukraine had completed all necessary procedures to launch the American-Ukrainian Fund.
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