US, Ukraine launch online portal for potential investment projects under minerals deal
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This article was updated to include an official statement from Ukraine's Economy Minister Oleksii Sobolev.
The U.S. International Development Finance Corporation (DFC) on Jan. 7 launched an online portal for applicants to submit projects to a U.S.-Ukraine reconstruction fund, saying the first investments could be made in the months ahead.
The reconstruction fund was created through a landmark April 2025 agreement between Ukraine and the U.S. — the so-called "minerals deal" — granting the U.S. preferential access to investment projects in Ukraine.
"The fund is ready to deploy investments that will advance shared economic security and prosperity for the United States and Ukraine," Conor Coleman, DFC head of investments and member of the fund's board of directors, said in a statement.
"We look forward to reviewing project proposals and making our first investments in the months ahead."
Following the announcement, Economy Minister Oleksii Sobolev said in a statement that Ukraine's goal is to sign the first three investments this year.
The initial projects should be in priority sectors that "deliver tangible results for recovery and are attractive to international investors," he added.
In its statement, the DFC said that the fund will consider proposals in its target sectors, including upstream and midstream critical minerals, power generation and transmission, hydrocarbon extraction, transport and logistics, information and communications technology, and emerging technologies.
The statement also said that the fund can invest in different financial instruments for eligible projects, but "expects to prioritize equity and equity-like investments in its early years of operations."
The deal’s conclusion in April followed months of difficult negotiations and was briefly derailed by a now-infamous shouting match in February in the Oval Office between Ukrainian President Volodymyr Zelensky and U.S. President Donald Trump and Vice President JD Vance.
Ukraine worked to get the talks back on track to maintain U.S. support amid Russia’s nearly four-year invasion. Since then, the fund has made progress — its first board meeting was held in September, followed two weeks later by a pledge from both sides to invest $75 million each.
The fund has already generated $23 million from hydrocarbon auctions, adding to its initial $150 million seed capital, and was "ballparking around $200 million" by the end of 2026, a U.S. official told Reuters for an article published on Jan. 7.
"The U.S.-Ukraine Reconstruction Investment Fund stands as a key pillar of the Trump administration’s efforts to deliver on its economic partnership with Ukraine, harnessing American expertise and capabilities to build a more prosperous future for both the United States and Ukraine," the DFC statement read.
