Kiev, Washington sign additional agreements to minerals deal - Ukrainian authorities

MOSCOW. May 14 (Interfax) - The U.S. International Development Finance Corporation (DFC) and Ukraine's Public-Private Partnership Agency on Tuesday signed an agreement to formally launch the United States-Ukraine Reconstruction Investment Fund as a follow-up to the intergovernmental agreement to this effect, ratified by the Verkhovna Rada, Ukrainian media said.

The sides also signed an earlier announced second implementing agreement - a treaty between the fund and the general partner to manage this fund, Ukraine's Economy Ministry told media.

According to First Deputy Economy Minister Alexei Sobolev, the documents enter into force along with the intergovernmental agreement on May 23, 2025, ten days after the publication of the ratification law.

The sides' representatives, three from the U.S. and three from Ukraine, will be appointed, investment protocols will be agreed and conditions for hiring investment advisors from well-known international companies will be approved at the next stage, Sobolev said.

"From an operational standpoint, the fund will be ready in 40-60 days," he said.

As reported, the U.S. and Ukraine signed an agreement on April 30 to create a reconstruction investment fund, which will jointly be managed by Kiev and Washington under an equal partnership model. The deal is of a financial nature and includes 12 clauses containing a list of critical minerals, oil and gas. Ukraine is represented in the fund by the Economy Ministry's Public-Private Partnership Agency, and the U.S. by the DFC.

The Verkhovna Rada ratified the agreement on May 8.

Ukraine's initial contribution to the fund is 50% of revenues from new and dormant licenses and royalties received after the agreement enters into force. The agreement is also known as the minerals deal.

Ukraine's Deputy Economy Minister and Trade Representative Taras Kachka said earlier the first contribution to make the fund operational would come from the DFC.

Contributions to the fund may be reinvested into projects in Ukraine to develop mineral deposits and into related infrastructure projects. Under the intergovernmental agreements, holders of new licenses will also be required to invite the fund to take part in minerals extraction projects if they do not have their own resources for that, as well as offer products that they will receive by developing these deposits.