Ukraine and the United States plan to launch a joint investment fund by the end of 2025 to boost development of Ukraine’s critical mineral resources, a major step in deepening bilateral economic ties amid war-driven reconstruction.

Ukrainian Economy Minister Yulia Svyrydenko announced during a visit to Washington that “very concrete steps” had been taken to make the fund operational within the year. The project stems from a minerals cooperation agreement signed on April 30, granting the U.S. preferential access to Ukrainian mining projects.

The fund's first board meeting is expected in July to discuss initial capital and strategic priorities. It will be co-managed by the U.S. International Development Finance Corporation (DFC) and Ukraine’s Public-Private Partnerships Agency.

Legal and Political Framework in Place

To enable the fund’s launch, the Ukrainian parliament approved amendments to the Budget Code on June 4. These will allow revenue from rent payments, permits, and production-sharing contracts to be funneled directly into the fund.

President Zelensky ratified the minerals agreement on May 12, and two operational protocols were signed the following day. Prime Minister Denys Shmyhal later confirmed that future U.S. military assistance could be counted as contributions to the fund.

Strategic Goals: Recovery and Security

Though the agreement does not include explicit U.S. security guarantees, Kyiv views it as a strategic pillar of postwar recovery and long-term economic resilience. The fund will prioritize lithium, titanium, and rare earth elements—key for both clean tech and defense sectors.

The initiative follows strained negotiations earlier in the year, during which Ukraine successfully removed clauses that might have compromised national resource control.