The U.S.-Ukraine Reconstruction Investment Fund (URIF) has formed its first portfolio of eight projects with the highest level of readiness, worth $1.2 billion, Ukraine’s Minister of Economy, Environment and Agriculture, Oleksii Sobolev, said.
“Through the InvestPortal, 138 investment applications have already been submitted. Of these, the search committee selected 22 projects for further consideration, and eight with the highest level of readiness formed the first investment portfolio,” he wrote on Facebook.
The minister уточнив that most applications in February were submitted in the fields of energy and energy security (62%), transport and logistics infrastructure (16%), critical minerals (12%), and advanced technologies and telecommunications (8%).
According to him, the submission and review of projects is ongoing.
In April 2025, the administration of U.S. President Donald Trump signed an agreement with Ukraine to establish URIF. Over nine months, both sides invested $75 million each in the fund’s equity capital.
In mid-November, the international consulting group Alvarez & Marsal (A&M) was appointed as the fund’s investment advisor. On December 18, after the second meeting of the fund’s Board of Directors, it was announced that the fund was ready to begin operational activities and consider the first investment projects in 2026, which will be submitted through the launched online application portal.
Ukraine’s Prime Minister Yulia Svyrydenko said on February 13 that during the first month of accepting applications, URIF received more than 60 project proposals, including 37 from Ukrainian companies.
“Our goal was to make three investments by approximately the end of this year. I think we will probably achieve that goal and see several investments by the middle of this year… We have already made good progress in identifying the right investments for the fund,” Jonathan Taylor, head of the DFC legal team for direct investments and investment funds, said this week at the fourth Ukraine Resilience business forum organized by the Luxembourg-Ukraine Chamber of Commerce (LUCC) in Luxembourg.
Ukraine has also committed to transferring 50% of funds received after the agreement enters into force in the form of payments for new and “dormant” licenses and royalties for mineral extraction to the fund. The agreement became known as the “subsoil agreement” or the “minerals agreement.”
On December 3 and 11, 2025, the State Service of Geology and Subsoil of Ukraine held three successful auctions for special permits to develop oil and gas fields. The total sale price reached UAH 1.4039 billion, half of which will go to URIF.
