The United States-Ukraine Reconstruction Investment Fund (URIF) has approved its largest investment package since the fund began operating. More than $60 million in fund capital will be allocated to projects involving critical minerals, power generation and energy storage, while the selected projects could attract up to $1 billion in additional private capital.
This was reported by Ministry of Economy and Environment of Ukraine the U.S. International Development Finance Corporation (DFC).
One of the key agreements is URIF’s first investment in the critical minerals sector. Together with BGV Group Management, the fund will establish an investment platform to finance early-stage mining projects. According to Reuters, the fund plans to allocate about $30 million to this area.
The platform will focus on projects in different regions of Ukraine, including deposits of rare earth elements, uranium, beryllium and zirconium.
Conor Coleman, DFC’s Head of Investment, said these resources are included on the U.S. list of critical minerals.
“All of them are on the U.S. list of critical minerals, so it fits very well with what we are seeking in terms of the priorities of the administration (of the United States – ed.),” Coleman said.
Another investment area involves distributed combined heat and power generation. URIF will invest in a platform that envisages the construction and operation of energy hubs at the community level. The projects are intended to provide electricity and heat to households, particularly in regions where access to critical infrastructure has been complicated by the war.
Separately, URIF and DFC will provide debt financing for a DTEK project to create a 200 MW / 400 MWh energy storage system at six sites in Ukraine.
According to DFC, the system is already operational. Its capacity is sufficient to provide backup power for about 600,000 households for two hours. The storage facilities are intended to help stabilize the power grid and restore electricity supplies following outages.
According to Coleman, the total value of the fund’s projects currently stands at about $70 million. He also said URIF is seeking additional capital to expand its investment opportunities.
The new package is another stage in the work of the fund, established by Ukraine and the United States in 2025. At the start, the two countries contributed $75 million each to its capital. URIF made its first investment in March 2026, providing funding to Ukrainian technology company Sine Engineering, which operates in the dual-use technology sector.
Photo: Ministry of Economy and Environment of Ukraine
Author: Danylo Pievchev