"Moving from preparation to action". Ukraine and the US finalize creation of reconstruction fund
Oleksiy Sobolev (Photo: Ministry of Economy)

The Board of Directors of the U.S.-Ukraine Reconstruction Investment Fund, established under the U.S.-Ukraine subsoil agreement, has made key decisions that will allow the fund to begin full-scale operations in early 2026, the Ministry of Economy of Ukraine and the U.S. International Development Finance Corporation (DFC) reported on Thursday.

The board approved the fund’s investment strategy and investment protocols.

The fund will focus on investments in critical minerals, energy, transportation and logistics, information and communications technology, as well as innovative technologies that strengthen supply chain resilience and contribute to the economic security and prosperity of both the United States and Ukraine.

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"We are moving from preparation to action," said Ukraine’s Minister of Economy Oleksii Sobolev.

The DFC confirmed that the fund is now fully operational.

"Activating a fund of this size and complexity in less than a year is a testament to the tireless dedication of DFC's worldclass professionals and our excellent partners in the Government of Ukraine, the U.S. Treasury, and the Department of State. Today’s news is clear: The U.S. and Ukraine are ready to deploy investments that will advance shared national interests and positively impact the lives of both the American and Ukrainian people. This is the result of President Trump’s commitment to securing a lasting peace," said DFC CEO Ben Black.

In January 2026, the fund plans to launch a public website through which project sponsors will be able to submit proposals for consideration. According to the tentative timeline, the first investment decisions — including approval of the first three projects — are expected by the end of 2026.

The fund’s initial capital amounts to $150 million, formed through equal contributions of $75 million each from the United States and Ukraine.

In November, it was announced that Alvarez & Marsal had been selected as the fund’s key operating partner and investment adviser.

  • The intergovernmental agreement establishing the U.S.-Ukraine Reconstruction Investment Fund was signed in late April 2025. The fund officially began operations on September 3, when it held its first board meeting.