Kyiv's Mineral Pact with Washington: A Boost for Ukraine's Economy

In a move to bolster Ukraine's economy, officials from Kyiv and the U.S. International Development Finance Corporation are evaluating potential investment sites. This initiative follows a strategically significant mineral deal, signed in April, under which the U.S. gains preferential access to Ukrainian mineral projects.

Ukraine views the agreement as crucial for securing U.S. financial aid, both to rejuvenate its war-ravaged infrastructure and to ensure continued defense support amid the ongoing Russian conflict. Economy Minister Oleksiy Sobolev emphasized the urgency of identifying three pilot investment projects within the next year and a half.

Sobolev highlighted the diverse prospects of the U.S.-Ukraine fund, extending beyond minerals to encompass the energy sector and infrastructure. This investment effort could leverage Ukraine's vast deposits of critical minerals essential to various industries, including defense and green energy.

(With inputs from agencies.)