Ukrainian Prime Minister Denys Shmyhal has appealed to the Verkhovna Rada to expedite the ratification of the agreement on the establishment of the Ukrainian-American Investment Fund for Reconstruction. According to him, he would be grateful if the parliament could make this decision by May 8.
This is reported by Kyiv24
In his statement, he added:
“We would be grateful if the parliament could ratify it by May 8. We are asking for ratification as soon as possible, but it is up to you to decide when such ratification can take place”
. After ratification, amendments will need to be made to the Budget Code of Ukraine so that Ukraine can invest part of the revenues from new licenses and rent payments into the established reconstruction fund.
Features of the agreement and its implications
On April 30, Ukraine and the USA signed an agreement on economic partnership and the establishment of an investment fund aimed at facilitating Ukraine’s recovery. According to Minister of Economy Yuliya Svyrydenko, this document stipulates that control over the fund will remain with Ukraine, and its establishment will occur on equal terms of 50/50. Furthermore, the agreement does not impose any debt obligations on Ukraine towards the USA and will not hinder Ukraine’s accession to the European Union. The fund will be filled exclusively from revenues generated by new licenses.
President Volodymyr Zelensky, commenting on this agreement, noted that the preparation process has undergone significant changes, and it is now “truly an equal agreement that creates opportunities for investment in Ukraine.” He added that on May 1, he discussed the ratification of the agreement with the Speaker of the Verkhovna Rada Ruslan Stefanchuk.
Moreover, Minister of Economy Yuliya Svyrydenko reported that the next step in implementing the agreement will be its ratification. Earlier, the Prime Minister had also mentioned that on May 1, the government would hold consultations with the leaders of factions and groups in parliament regarding this issue.
Historically, the agreement with the USA received support during Donald Trump’s presidency, who insisted on its signing from the beginning of his second term. Both sides planned to sign the agreement on natural resources back in February, but the signing was postponed due to a dispute during the meeting between Trump and Zelensky in the Oval Office.