The first contribution will come from the US International Development Finance Corporation (DFC). According to Minister of Economy of Ukraine Yulia Svyrydenko, Ukraine has not yet signed two other agreements regarding a limited partnership between the countries and on the fund’s operation. She indicated that these agreements are still in the finalization stage, and state agencies from both countries will sign them – the DFC and the Agency for Support of Public-Private Partnerships (PPP).
She also confirmed that:
- The agreement stipulates that the US will also receive income from so-called dormant licenses for extraction.
- The distribution of profits from extraction will begin no earlier than in 10 years. The US will receive a profit amount equivalent to its contributions made, while the balance will be distributed equally between the parties.
- The agreement includes guarantees of legal and political stability for Ukraine from the US.
- License and rental payments from Ukraine’s state budget should be deposited into the PPP’s accounts, which will transfer the funds to the intergovernmental fund.
- The intergovernmental fund will be the first to receive information about new developments and have priority in the sale of future products.
The Ministry of Economy clarified that companies from the US will not have advantages in accessing Ukrainian subsoil because the fund’s concept does not concern access to minerals but rather the prerogative to invest in companies that have already obtained access to the subsoil.