“On Wednesday, the Government made the decisions necessary to sign an agreement between Ukraine and the United States to establish an investment fund of reconstruction. Source: Prime Minister of Ukraine Denis Schmigal Direct Language: “Five key principles are at the heart of the agreement: Equality.”, – WRITE: www.pravda.com.ua
Source: Prime Minister of Ukraine Denis Shmigal
Straight language: “Five key principles are based on the agreement:
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- Equality. The fund is created on the basis of 50/50 and both parties have an equal right of voice.
- Save control. Ukraine retains full control over subsoil, infrastructure and natural resources.
- New investments, not debts. The agreement does not provide for any debt.
- Investors and buyers are guaranteed. The Fund will invest in projects and will guarantee commercial purchases of products on terms of “Berry or Pay”.
- Consistency with the European integration course. The agreement will not be obstacles to Ukraine’s EU membership. “
Details: According to Shmigal, the Fund will be filled with contributions to the US and Ukraine. The funds of the Fund will be reinvested exclusively to Ukraine.
Through this agreement, Ukraine can attract significant resources for reconstruction, start economic growth, get the latest technologies from partners and a strategic investor in the US.
Updated: According to “Ukrainian Pravda”, the agreement applies to rare land minerals, oil and gas.
The adopted text also provides that two relevant agencies from the Ukrainian and American sides will be created to operate processes, which will act on behalf of the countries. It is the Ukrainian agency that will list the profit from the budget that it will transfer to the joint fund.
New weapons supply will be credited as a contribution to the US Fund.
Ukraine will hide 50% of the income from the issuance of new licenses and contracts for the production of fossils that will be implemented after the partnership is created.
Details of profit distribution, governing rules and other specific items of partnership functioning will be spelled out in a broad limited partnership agreement, which will be signed after the current political agreement is sipped as the first vicereter – Minister of Economy Yulia Sviridenko and the Verkhovna Rada.
Recall:
- To sign the document to Washington, the first Viceremierka – Minister of Economy Yulia Sviridenko went.
- Financial Times reported that the signing of the Framework Agreement on the use of subsoil between Ukraine and the United States was at risk of disrupting at the last moment when the Ukrainian delegation went to Washington.
- According to Bloomberg, the project of the agreement refers to the creation of a joint fund, which should attract investments in energy, mining and related sectors of the Ukrainian economy.
- On April 11-12, the Ukrainian delegation conducted technical consultations in Washington with President Donald Trump’s administration on access to minerals.
- The Ministry of Economy of Ukraine has released the text of the Memorandum from the United States on the completion of the official agreement on the economic partnership and the investment fund for reconstruction.
- The future joint investment fund of Ukraine and the US will have the right to invest both in the development of mineral deposits and in infrastructure.