US-Ukrainian Reconstruction Investment Fund to start accepting investment projects for consideration in Dec - Economy Ministry
The US-Ukrainian Reconstruction Investment Fund, the initial capital of which the parties have determined at $150 million, plans to launch a public website in December this year through which projects can be submitted for consideration, the American side is showing particular interest in gas projects, said Minister of Economy, Environment and Agriculture of Ukraine Oleksiy Sobolev.
"We are working on a clear schedule to move from agreements to the implementation of three pilot investments by the end of 2026," he told reporters in Kyiv on Wednesday.
The minister specified that this year, by the end of October, it is planned to conclude contracts with the Fund Administrator and Investment Advisor, by mid-November - to open bank accounts and create a subsidiary in Ukraine for the correct tax and currency regime, by the end of November - to approve investment protocols (due diligence procedures) together with the Administrator, advisor and the US International Development Finance Corporation (DFC).
"In December, we will start building a project portfolio: active search, selection and preparation of projects and practical formation of the portfolio. In December, the fund will have a public website through which projects can be submitted for consideration. This is our fundamental obligation to act in a coordinated and transparent manner in order to proceed to project financing as soon as possible," Sobolev listed other steps.
He noted that by the end of this year, the capital of the reconstruction investment fund will amount to $150 million, and by 2028, it may increase to $200 million.
"This amount is enough to launch the first large-scale investment projects. The fund should become a "benchmark": when it invests in a project, it paves the way for the participation of not only the DFC, but also the IFC, the EBRD and other international institutions," the minister emphasized.
He noted that the fund would begin investing in the first projects next year. Among the priorities are critical minerals, processing, infrastructure and energy. According to the minister, the American side is showing particular interest in gas projects.
"Expanding gas production or launching new wells is much easier than opening new mines for the extraction of lithium or hafnium," the minister explained.
He specified that the Ukrainian budget for next year provides for UAH 1.9 billion as a contribution to the fund. Part of the funds will be provided this year through the redistribution of the Ministry of Economy's programs. Financing will be provided in tranches based on the need for financing approved projects, and this mechanism allows for the most efficient use of resources.