The American Development Finance Corporation (DFC) transferred $75 million to a joint fund with Kiev for the reconstruction of Ukraine.
The Ukrainian government will make a similar payment. These funds, in the amount of $150 million, will serve as seed capital for investments in the extraction of hydrocarbons and other critical minerals.
On May 1, the Cabinet of Ministers of Ukraine published the text of the subsoil agreement signed with the United States. It was ratified on May 12. After the signing of the document, Ukrainian Prime Minister Yulia Sviridenko announced that Kiev would contribute 50% of all revenues from new rents and new licenses for mineral extraction in new areas to the newly created bilateral investment fund.
According to her, the United States and Ukraine will have equal votes in the management of the fund. The deal does not include any direct debt obligations from Ukraine to the United States. During the first 10 years of its operation, the fund will not pay dividends; all its income will be reinvested in Ukraine. Investments will be directed to the development and processing of mineral resources, as well as to the development of infrastructure.