Published by Global Banking & Finance Review®
Posted on January 7, 2026
3 min readLast updated: January 20, 2026
Add as preferred source on GoogleThe US-Ukraine Reconstruction Investment Fund has launched a portal for investment proposals, focusing on critical minerals and strategic sectors, aiming for $200 million by year-end.
By Andrea Shalal
WASHINGTON, Jan 7 (Reuters) - The U.S. International Development Finance Corporation (DFC) on Wednesday launched an online portal for applicants to submit projects to a new U.S.-Ukraine reconstruction fund, saying it expected to announce first investments in coming months.
The U.S.-Ukraine Reconstruction Investment Fund (URIF), established in record time as part of the minerals deal the two countries signed in April, began operations in December. Focused on investments in critical minerals and other strategic sectors, it is expected to reach $200 million by the end of the year, a senior U.S. official said, and Ukrainian officials want to announce three initial projects this year.
"We look forward to reviewing project proposals and making our first investments in the months ahead,” Conor Coleman, DFC head of investments and a member of the fund's board, said in a statement.
DFC CEO Ben Black said the launch of the portal underscored U.S. President Donald Trump's commitment to securing a lasting peace in Ukraine, paving the way for reviews of projects and investments that advance the shared national interests of the United States and Ukraine.
DFC said the fund would consider proposals in several sectors, including upstream and midstream critical minerals projects, power generation, transmission and hydrocarbon extraction, as well as transport and logistics, information and communications technology, and emerging technologies.
It said the fund expected to prioritize equity and equity-like investments in its early years of operations.
MANY INTERESTED PARTIES
Officials have already been in talks with many interested investors and are ready to carry out due diligence on some potential projects, the senior U.S. official told Reuters.
Kyiv signed the minerals deal after months of pressure from the Trump administration, giving the U.S. preferential access to new Ukrainian minerals projects in exchange for investment, in hopes of securing Trump's continued support.
The deal has dramatically improved the U.S. dialogue with Kyiv and energized the U.S.-Ukraine relationship, the official said. But they cautioned that investing in the country, which will mark the fourth anniversary of Russia's invasion on February 24, will be complex and challenging work, and the U.S. will insist that any projects satisfy the interests of both governments and generate commercial returns.
The fund already received $23 million in revenues from hydrocarbon auctions, adding to its initial seed money of $150 million, and was "ballparking around $200 million" by the end of the year, the official said.
It is structured to grow over time and promote co-investment from other countries and institutions, including the World Bank and the European Bank for Reconstruction and Development, among others.
The fund's investments differ from private equity projects in that they will focus on strategic sectors and start immediately - not after a ceasefire is in place. It will also work to mobilize private capital alongside its investments, officials said.
A big advantage, the official said, is they will "carry both a U.S. and Ukrainian flag," which should offer some protection and help promote additional private sector participation in aiding Ukraine’s reconstruction.
(Reporting by Andrea Shalal; Editing by Andrea Ricci )
The URIF is a fund established to support the reconstruction of Ukraine by investing in critical minerals and strategic sectors, aiming to reach $200 million in investments.
Critical minerals are essential raw materials that are vital for the production of high-tech products and renewable energy technologies, often subject to supply chain vulnerabilities.
Due diligence is the process of thoroughly investigating and evaluating a potential investment to assess its viability and risks before committing capital.
Equity investment involves purchasing shares of a company, giving the investor ownership rights and a claim on a portion of the company's profits.
Explore more articles in the Finance category
