The US Treasury announced the start of financing the Ukrainian defense sector through the joint US-Ukrainian Fund for the Reconstruction of Ukraine (URIF), choosing Sine Engineering as the first recipient of investment to expand the production of modern drones in the country.
"URIF today announced that it has approved its first investment aimed at strengthening Ukraine's security, supporting the sector that will become the cornerstone of the country's post-war economy, and expanding access by the United States and allies to field—tested advanced technologies," the Ministry of Finance said in a press release.
"The joint American-Ukrainian Board of Directors approved direct investments in the share capital of Sine Engineering, a company engaged in advanced technologies," the release says.
The US Treasury announced in April the establishment of a joint US-Ukrainian investment fund for the reconstruction of the country. The creation of this structure is part of larger agreements between the two states concerning the sphere of critically important minerals.
USA and Ukraine signed a deal on Ukrainian natural resources on April 30. It provides that the United States receives a priority right to buy products mined on Ukraine, while the document does not contain security guarantees for Kiev.
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