Ukraine-US investment fund marks key milestone, Kyiv tells EU

ISTANBUL

A newly signed US-Ukraine Reconstruction Investment Fund marks an important milestone in the strategic partnership between Washington and Kyiv to strengthen Ukraine’s economy and security, Foreign Minister Andrii Sybiha said after a call with EU foreign policy chief Kaja Kallas.

Sybiha said he highlighted the deal’s significance in the call ahead of major international events and emphasized coordination between Ukraine and the EU.

The officials also discussed recent initiatives to secure “a fair and lasting peace,” Sybiha noted, adding that both sides exchanged updates on a planned EU delegation visit May 9.

“I am grateful to the EU for its solidarity and steadfast support,” said Sybiha.

The US and Ukraine announced earlier that a critical minerals deal had been signed, following months of often fraught negotiations.

Under the agreement, the United States-Ukraine Reconstruction Investment Fund is set to be established. The US Treasury Department said the economic partnership would allow the two to work collaboratively to accelerate Ukraine's economic recovery, highlighting Washington's "significant financial and material support" to Kyiv since the war with Russia began in 2022.

Ukraine's Economy Minister Yulia Svyrydenko said the fund would be used to invest in projects to extract useful fossil fuels and oil and gas, as well as in related infrastructure or recycling projects to be jointly decided by the two countries.​​​​​​​