U.S.-Ukraine Reconstruction Investment Fund Poised for First Investments in 2026
18.12.2025 | 19:32 | Section for Public and Mass Media Relations
The Ministry of Economy, Environment and Agriculture of Ukraine, together with the U.S. International Development Finance Corporation (DFC), announced that the U.S.-Ukraine Reconstruction Investment Fund is now poised for its first investments in 2026.
The Fund’s board of directors today reached final consensus necessary to bring the Fund to full operational status in early 2026. This includes the approval of investment and fund policies and the review of the Fund’s investment strategy.
“Today’s decision represents a major milestone in the Fund’s operational readiness. With the Fund Advisor in place, core policies and procedures approved, and $150 million in initial capital committed, the Fund is ready to begin investing in Ukraine’s reconstruction. Since the agreement entered into force on May 23, Ukraine’s Ministry of Economy and PPP Agency have worked in close, near-daily coordination with the U.S. International Development Finance Corporation and the U.S. Treasury to establish the Fund in line with leading international standards. We are now moving from paperwork to reconstruction, developing a high-quality pipeline to deploy capital into projects that support Ukraine’s long-term growth and supply chain resilience.” said Oleksii Sobolev, Minister of Economy, Environment and Agriculture of Ukraine.
The Fund’s investment strategy focuses on projects and companies in five key sectors—including critical minerals, energy, transport and logistics, ICT, and emerging technology—to support Ukraine’s recovery, long-term economic resilience, and integration into allied supply chains.
In January 2026, the Fund plans to launch a public website through which project sponsors will be able to submit proposals for consideration. The indicative timeline envisages the preparation and launch of the first investment decisions, including for the first three projects, by the end of 2026.
Background:
On 14 November, the Ministry of Economy, Environment and Agriculture of Ukraine and DFC also announced the appointment of a key operational partner for the Fund. The Fund has appointed Alvarez & Marsal (A&M) as its investment advisor.
The United States–Ukraine Reconstruction Investment Fund was established through an intergovernmental agreement between Ukraine and the United States. The Fund’s initial capital has been formed from equal contributions – $75 million from the United States via DFC and $75 million from Ukraine, totaling $150 million in seed capital. These funds are expected to be invested in three projects by the end of 2026. The Fund’s governance structure includes a Board of Managers and four dedicated committees: Investment, Audit, Administrative, and Prospecting. The Fund will invest in five priority sectors: critical minerals, energy, infrastructure, ICT and emerging technology.
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