“Ministry of Economy on investment fund management under agreement with the US: the system will be equalThe US-Ukraine Reconstruction Investment Fund will have equal management. Key decisions will be made unanimously by
representatives of both countries.”, — write: unn.ua
This was reported by the Ministry of Economy of Ukraine, reports UNN.
The Ministry reported that the Fund’s board of directors will include three managers from the Ukrainian side and three managers from the American side. They will be members of the Fund’s Management Board and various committees. The key committees in the Fund’s structure will be:
- Investment – representation will be 3 to 2 (majority from the US side);
- Administrative – representation 2 to 2;· Auditing – representation 2 to 2;
- Project Search Committee: 2 to 3 (majority from the Ukrainian side).
The candidates for the board are appointed by: the PPP Agency (Agency for Public-Private Partnership Support of Ukraine) and the DFC (International Development Finance Corporation of the USA).
The Ministry of Economy also reported that critical decisions will be made by the Fund’s Management Board exclusively unanimously. That is, the parties will seek compromise.
First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko reported on May 13 that Ukraine has completed all the necessary procedures for launching the American-Ukrainian Reconstruction Fund. She also added that she handed over a note to the Chargé d’Affaires ad interim of the United States in Ukraine, Julie Davis.
First Deputy Minister of Economy Oleksiy Sobolev said that the United States should send Ukraine its diplomatic note on May 23, and then two commercial agreements necessary to launch the American-Ukrainian Reconstruction Fund will enter into force.
AddendumPresident of Ukraine Volodymyr Zelensky signed a bill on the ratification of the agreement on minerals between Ukraine and the United States, which provides for the creation of an investment fund, where Ukraine retains control over resourcesи.
The Verkhovna Rada supported bill №13256 on amendments to the Budget Code as a basis for implementation of the agreement on mineral resources.
The Agency for Public-Private Partnership Support of Ukraine and the International Development Finance Corporation of the USA (DFC) signed two commercial agreements necessary to launch the American-Ukrainian Reconstruction Fund.