The United States and Ukraine are accelerating the preparation process of the “United States-Ukraine Reconstruction Investment Fund.” Collaborating with Kyiv to develop mineral resources is one of Washington’s key measures to reduce dependence on Chinese rare earth minerals.
Ukrainian First Deputy Prime Minister Yulia Svyrydenko stated in Washington on Wednesday, June 4, that the two sides plan to hold the first board meeting in July and officially launch the fund by the end of this year.
According to Svyrydenko’s post on her social media platform X, she met with US Treasury Secretary Scott Bessent on Wednesday to discuss the initiation of the initial projects of the fund.
“We are moving from vision to action, advancing the implementation of the United States-Ukraine Reconstruction Investment Fund. The specific projects currently being planned focus mainly on strategic areas such as graphite, lithium, and titanium. These are key areas of strategic cooperation where both the United States and Ukraine can achieve mutual benefits,” she said.
The fund is a core element of the US-Ukraine mineral cooperation agreement signed on April 30 this year, strongly promoted by President Trump. Its main purpose is to collaborate with Kyiv to develop minerals, investing in and developing strategic resources such as lithium, rare earth metals, and titanium within Ukraine, assisting Ukraine in post-war reconstruction, and enhancing its strategic position in the global supply chain.
Through cooperation in mining resources, the United States can also obtain stable, long-term rare earth supplies and reduce dependence on Beijing.
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