The Project Selection Committee of the U.S.–Ukraine Recovery Investment Fund (URIF) has compiled a portfolio of eight projects with a high degree of readiness. Their combined estimated value amounts to approximately $1.2 billion. The announcement was made by the Ministry of Economy, Environment and Agriculture of Ukraine.
Since the launch of the fund’s investment portal, a total of 138 applications have been submitted. Following a preliminary screening process, the committee identified 22 initiatives as promising for further development. Of these, eight projects demonstrated the highest level of preparedness and have now been included in the fund’s official investment portfolio.
In terms of sector distribution, investor interest in February was primarily concentrated in the energy sector, with energy and energy security projects accounting for 62% of total submissions. Transport and logistics infrastructure represented 16%, critical minerals projects accounted for 12%, and advanced technologies and telecommunications comprised 8%.
The U.S.–Ukraine Recovery Investment Fund was established under an intergovernmental agreement between Ukraine and the United States. Its initial capital was formed on a parity basis, with $75 million contributed by each side. The U.S. contribution was provided by the U.S. International Development Finance Corporation (DFC), bringing the fund’s starting capital to $150 million.
URIF’s governance structure includes a Supervisory Board and four specialized committees: investment, audit, administrative, and project selection. The fund’s investment advisor is the international consulting firm Alvarez & Marsal.
In the initial phase of its operations, the fund plans to focus primarily on equity and equity-like instruments, enabling support for projects with strong growth potential.
An additional funding source for URIF is the subsoil agreement between Ukraine and the United States. Under its terms, Ukraine has committed to channeling 50% of revenues generated after the agreement enters into force — including payments for new and so-called “dormant” licenses, as well as royalty revenues from mineral extraction — into the fund.
The first inflows under this framework have already been recorded. In December 2025, the State Service of Geology and Subsoil of Ukraine conducted three auctions for special permits to develop oil and gas fields. The total value of the transactions reached UAH 1.4039 billion, with half of these proceeds to be allocated to the U.S.–Ukraine Recovery Investment Fund.
