The reconstruction investment fund needs guarantees that will be ratified by the Ukrainian Parliament.

Deputy Minister of Economy Taras Kachka explained that the mineral agreement with the US, which provides for the creation of a separate investment fund, will be ratified solely by the Ukrainian side. Ratification in the US Congress is not necessary, as the fund’s main activities will be carried out within Ukraine’s legal framework. According to Kachka, Ukraine must provide certain assurances regarding the fund’s operation.

“We provide guarantees within the framework of public law. That is, this is an intergovernmental agreement that will be ratified by the parliament, because there are also issues of tax benefits. We provide such benefits in virtually all intergovernmental agreements,” Kachka said.

At the same time, the official added that the guarantees existing in the legal framework of the US have already been implemented. The committee’s decision included a proposal that any new arrangements for the creation of the reconstruction fund should not contradict the agreement, and that the agreement should apply throughout the territory of Ukraine within its internationally recognized borders.