On April 17, Ukrainian and American parties signed a memorandum confirming their intention to finalize and conclude an agreement that will be beneficial for both nations. As part of this agreement, it is planned to establish a Fund for the Reconstruction of Ukraine, which will facilitate the attraction of foreign funds for the country’s development.
This is reported by Business • Media
The Memorandum and Its Significance for Ukraine
According to the document, it reaffirms the American people’s desire to invest alongside Ukrainians in a free, sovereign, and secure Ukraine. The memorandum also emphasizes the respect of the USA for Ukraine’s commitments regarding its accession to the European Union and cooperation with international financial institutions. This means that the concluded agreement will not hinder Ukraine’s Euro-integration path and will not create conflicts with international obligations.
It is expected that the text of the agreement will soon be finalized and signed, followed by ratification by the parliaments of both countries.
Details of the Investment Fund’s Creation
Taras Kachka, Ukraine’s trade representative, stated in a television broadcast that the new investment fund of Ukraine and the USA will have the right to invest in both the development of mineral deposits and various infrastructure projects, including road, port, and energy projects. The relevant agreement for the establishment of the fund is to be concluded by a Ukrainian state enterprise in conjunction with the U.S. International Development Finance Corporation.
“The agreement does not stipulate debt repayment but merely defines how much the USA and Ukraine will earn from investments in Ukraine,” Kachka emphasized.
A new round of negotiations regarding the development of natural resources is scheduled to take place in the USA on April 24.