U.S. and Ukraine sign historic reconstruction fund pact
The USA and Ukraine have signed an economic partnership agreement. "To be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine," announced US Treasury Secretary Scott Bessent.
What do you need to know?
- What was signed? The United States and Ukraine signed an agreement to establish the US-Ukraine Reconstruction Investment Fund, aimed at accelerating Ukraine's economic recovery.
- What are the terms of the agreement? The fund will be financed by both parties, focusing on mining and infrastructure projects in Ukraine.
- What's next? The agreement requires changes to Ukraine's budget law and ratification by the Ukrainian parliament.
What are the goals of the new fund?
The signed agreement between the USA and Ukraine aims to create the US-Ukraine Reconstruction Investment Fund.
"On April 30, the United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund. In recognition of the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russia’s full-scale invasion, this economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery," stated a US Treasury Department release.
"Thanks to President Trump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund," stated US Treasury Secretary Scott Bessent.
"This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term," Bessent stated.
He also mentioned that President Trump's vision for the partnership between the American and Ukrainian people is to demonstrate the commitment of both sides to lasting peace and prosperity in Ukraine.
"And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine," declared Scott Bessent.
What are the financial terms of the agreement?
Ukraine's Deputy Prime Minister, Yulia Svyrydenko, confirmed that both sides will make equal contributions to the fund.
"Full ownership and control remain with Ukraine. All resources on our territory and territorial waters belong to Ukraine," emphasized Yulia Svyrydenko.
