Washington: The United States and Ukraine have successfully reached an agreement on establishing a joint Reconstruction Investment Fund, which is a component of a larger minerals deal between the two nations. This development was announced by the US Treasury Department, highlighting the collaborative effort aimed at enhancing Ukraine's resource management.

According to Namibia Press Agency, the agreement ensures that all resources within Ukraine's territory will remain under the ownership and control of Kiev, as emphasized by Ukrainian Deputy Prime Minister Yulia Svyrydenko. The minerals deal between the two countries stipulates that Ukraine and the United States will jointly manage the investment fund, with neither party possessing a decisive vote, as clarified by Svyrydenko.

The minerals deal does not propose any changes in the management of Ukrainian state-owned companies. Notably, major entities such as the oil producer Ukrnafta and nuclear power plant operator Energoatom will continue under state ownership. The agreement also requires ratification by the Verkhovna Rada, Ukraine's parliament, to become effective.

The newly established fund will focus on investing in projects related to the extraction of minerals, oil and gas, and infrastructure or processing. The United States will play a role in selecting specific projects for investment, as stated by Svyrydenko. This collaboration aims to bolster Ukraine's resource sector and economic resilience through strategic investments.