Ukraine and USA Collaborate on Mineral Extraction Projects
Ukraine and the United States have reached an agreement on the initial projects for the extraction and processing of graphite, lithium, and titanium under the recently ratified American-Ukrainian Reconstruction Investment Fund.
This was announced by the Ukrainian Minister of Economy, Yulia Svyrydenko, following her meeting with U.S. Secretary of the Treasury Scott Bessent.
Collaboration in Mineral Extraction
Yulia Svyrydenko noted that the selected areas are mutually beneficial for developing partnership between the two nations. During the meeting, they also discussed investor protection tools necessary for the effective implementation of these projects.
The first meeting of the Fund’s Supervisory Board is scheduled for the end of July. This meeting will be a crucial moment for launching the Fund’s operational activities, as it will approve the relevant committees and procedures for selecting projects for further funding.
The Ukrainian side proposed to expand the Fund’s investment mandate to support Ukrainian companies, particularly those in the defense industry. According to Yulia Svyrydenko, the American side responded positively to this initiative.
Another significant topic discussed during the meeting was the expansion of military risk insurance capabilities. It was noted that American companies are willing to invest in Ukrainian projects, but they require appropriate guarantees to minimize potential risks associated with the war.
Launch of the Ukraine Reconstruction Fund
In May, Minister Yulia Svyrydenko received a note from the U.S. Chargé d'Affaires in Ukraine, Julia Davis, confirming the completion of procedures for activating the American-Ukrainian Investment Fund.
On May 1, Ukraine and the United States signed an agreement to establish a joint Investment Fund for the reconstruction of Ukraine.
On May 13, President Volodymyr Zelensky signed the law ratifying the agreement between the governments of Ukraine and the USA to create the American-Ukrainian Reconstruction Investment Fund.
The Verkhovna Rada approved the law ratifying the Agreement between the governments of Ukraine and the USA on the establishment of the American-Ukrainian Reconstruction Investment Fund.
