Kyiv finalizes procedures for launching US-Ukraine Recovery Investment Fund

Ukrainian Economy Minister Yuliia Svyrydenko has confirmed that Ukraine has completed all the necessary steps to officially launch the U.S.-Ukraine Recovery Investment Fund.

The announcement was made after she delivered a diplomatic note to U.S. Chargé d’Affaires in Ukraine, Julie Davis, Caliber.Az reports, citing Ukrainian media.

“Today, I handed over the note to U.S. Chargé d’Affaires in Ukraine Julie Davis,” Svyrydenko said. “We can confidently say that we have fulfilled the task set by President Volodymyr Zelenskyy for our negotiating team, as we now have an equal, forward-looking Agreement.”

According to Svyrydenko, the bilateral Agreement respects Ukraine’s national interests and outlines a joint structure for governance and investment with the United States. She emphasised that the Agreement does not include any provisions on debt and that it contains a binding commitment to direct all investments exclusively into Ukraine.

“Another clear signal: Ukraine is delivering, on track, and ready for strategic investment,” she declared.

Julie Davis, the U.S. Chargé d’Affaires in Ukraine, also confirmed the progress and welcomed the step forward. “Today, I met with Yulia Svyrydenko. She handed over Ukraine’s official note, which confirms the completion of internal procedures for the U.S.-Ukraine Recovery Investment Fund. We welcome this important step and look forward to continued joint progress,” Davis stated.

The Ukrainian parliament ratified the agreement on May 8. The vote confirmed the legislature's approval of the establishment of a joint investment fund between Kyiv and Washington. Following parliamentary ratification, President Volodymyr Zelenskyy signed the law formally approving the agreement.

The underlying agreement—often referred to as the “subsurface agreement”—was signed by Ukraine and the United States on April 30. It stipulates that if, after the agreement enters into force, the U.S. government provides new military assistance to Ukraine (such as weapons systems, ammunition, technology, or training), then the capital contribution from the U.S. side will be recognised under a more limited partnership arrangement.

The new fund is part of broader efforts to facilitate Ukraine's reconstruction, attract foreign investment, and deepen strategic ties between Kyiv and Washington amid the ongoing war and post-war planning.

By Tamilla Hasanova