Ukraine and the United States may initiate the launch of an important investment mechanism as early as this year, which is intended to support the country’s recovery after the devastating effects of the war
This was announced by Ukraine’s Minister of Economy, Julia Sviridenko, during her visit to Washington, where she held a series of negotiations with representatives of the U.S. government and international financial institutions. According to the official, the main goal at present is to define specific steps and conditions for a quick start to the operation of the Ukraine-U.S. Recovery Fund, created in accordance with the so-called “Subsoil Agreement.” Based on available information, the first meeting of the fund’s governing body is scheduled for July this year. This means that the process of launching, which a few months ago seemed extremely complex due to legal and financial nuances, is gaining momentum. Minister Sviridenko told media representatives that active discussions are underway regarding the formation of the initial capital, as well as the development of an investment strategy for the coming years. She emphasized that cooperation with American partners involves not only a legal framework but also a real mechanism for attracting investments to carry out large-scale reconstruction works in the country. Earlier, on May 8, Ukraine’s Verkhovna Rada approved the ratification of the so-called “Subsoil Agreement,” which became a key agreement with the U.S. aimed at creating a Ukraine-U.S. investment fund for recovery. This long-awaited decision received support from political forces and signified the opening of opportunities for attracting international financial resources and technologies. President Volodymyr Zelensky signed the relevant law on May 12, establishing the legal basis for further implementation of the agreements. A few days later, on May 13, Ukraine signed two important commercial agreements with the U.S. International Development Finance Corporation, which became a logical continuation of the ratification process. These documents envisage cooperation within the framework of the fund’s creation and define mechanisms for utilizing the attracted investments. Amid these negotiations, there is a lot of optimism about the possibility of quickly mobilizing efforts to restore Ukrainian infrastructure, but serious challenges and risks also remain regarding political, legal, and economic aspects of implementing the project. Ukraine is making every effort to use this opportunity efficiently to enhance its investment capacity, attract international aid, and accelerate the repair and recovery of the country’s residential, industrial, and strategic potential. According to experts, the activation of this mechanism opens new prospects for the country in terms of economic growth and strengthening its position on the international stage, although success depends on the Ukrainian government’s ability to promptly and effectively implement all agreements.