ADDS APPROVAL OF SIGNING AGREEMENT WITH US, REVISES HEADLINE, DECK, LEDE
By Alperen Aktas
ISTANBUL (AA) - Ukraine has approved an agreement with the US on an investment fund for the Eastern European country’s reconstruction, in a move seen as a significant step in securing long-term financial support for post-war rebuilding, Prime Minister Denys Shmyhal announced Wednesday
"Today, the government is approving the decisions necessary to sign an agreement between Ukraine and the United States on the establishment of a Reconstruction Investment Fund,” he said on Telegram
The agreement includes six key provisions: The fund will be jointly owned and managed by the governments of Ukraine and the US.
Ukraine’s natural resources will remain under national ownership and will not be transferred to the US or any other entity.
Additionally, Ukraine will contribute 50% of future revenues from its natural resource assets to the fund, while the US will provide financial contributions, instruments and critical assets for reconstruction.
“The funds collected will be invested exclusively in Ukraine’s reconstruction projects. Essentially, this is a fund for future generations of Ukrainians,” Shmyhal said.
He also emphasized that the agreement aligns with Ukraine’s European integration commitments, ensuring no contradictions with its obligations to the European Union.
The announcement comes as Ukraine continues its efforts to secure international financial support for post-war rebuilding, with the US playing a key role in providing economic and military assistance.
Previously, Shmyhal said that Ukraine and the US had finalized a draft agreement on the Investment Fund for the Reconstruction of Ukraine.
“This agreement is directly tied to security guarantees,” he said, emphasizing that Ukraine will not sign it without assurances of long-term peace and stability.