Ukraine and the US plan to begin three mining projects within 1.5 years.

The two countries are working to launch the first three mining investment projects, scheduled for completion within the next 18 months under the American Ukrainian Reconstruction Investment Fund, according to Prime Minister Yulia Svyrydenko after a meeting with US Treasury Secretary Scott Bessent.

“We discussed the launch of the reconstruction investment fund. We are working on expanding its mandate so that the fund can also invest in the defense sector. The first meeting of the board of directors is scheduled for September. The goal is to launch the first three projects within 18 months”, Svyrydenko said.

The discussion also covered expanding cooperation in the defense and investment sectors. This included a promising defense agreement announced by President Zelenskyy, which involves the production and export of Ukrainian drones as well as the potential purchase of American weapons.

US Chargé d’Affaires Julie Davis emphasized that effective corporate governance and a favorable business climate are crucial for attracting American and other foreign investment to Ukraine, during a meeting with Ukrainian Energy Minister Svitlana Grynchuk.