Next technical documents for U.S. minerals deal to be institutional, not intergovernmental

Ukrainian Prime Minister Denys Shmyhal has announced that the next technical documents related to the establishment of the Ukraine-U.S. Reconstruction Investment Fund will be institutional rather than intergovernmental in nature.

"Given the scale of the agreement, further steps are needed – these will not be intergovernmental decisions, but institutional documents that have already been fundamentally agreed upon in terms of critical issues and remain within the framework of the agreement while serving to develop it," he said during the government's Q&A session in the Verkhovna Rada on Friday.

Shmyhal explained that these subsequent agreements will be of an implementation nature – commercial or executive agreements – that will be signed between the Ukrainian agency and the U.S. Development Finance Corporation (DFC), and therefore will not require ratification by Parliament.

According to the Prime Minister, the first two of these documents will include an agreement on the establishment of the Fund, outlining the terms under which it will be created, and a second agreement specifying the operational procedures of the Fund.

Shmyhal added that the documents have already been prepared and are expected to be signed shortly after the ratification of the agreement.