Launch of the U.S.-Ukraine Investment Fund
One year ago, Ukraine and the United States signed an agreement to establish the Ukraine Recovery Investment Fund (URIF), a joint initiative with an initial capital of $150 million. Since then, the fund has received 282 applications from more than 15 countries. Over half of these applications came from Ukrainian companies, and the energy sector accounted for the largest share—more than a quarter of all submissions.
The fund's first investment was approved in March 2025, targeting Sine Engineering, a Ukrainian company that develops communication and navigation components for unmanned aerial vehicles. On September 3, 2025, the fund's steering board held its inaugural meeting. Ukraine is represented on the board by Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture; Yehor Perelyhin, Deputy Minister; and Oleksandr Karasevych, State Secretary of the Ministry of Foreign Affairs.
Operational Milestones and Future Goals
In May 2024, Ukraine and the U.S. completed all necessary procedures to activate the joint recovery fund. Ukraine's parliament ratified the minerals agreement between the two countries, with 338 lawmakers voting in favor and nine opposing. President Volodymyr Zelenskyy signed the ratification law for the subsoil agreement with the U.S. The fund's founding agreement has no expiration date, and investment profits will be shared between the U.S. and Ukraine after the first ten years of operation.
Yulia Svyrydenko stated: 'Our shared goal is to finalize three investment agreements by the end of 2026.'
The URIF aims to support investments across multiple sectors, including:
- Energy
- Transport and logistics
- Critical minerals
- Advanced strategic technologies
This initiative opens new opportunities for Ukrainian businesses and attracts international capital, which is expected to drive the country's economic recovery.
The creation of the U.S.-Ukraine Recovery Investment Fund marks a significant step in strengthening economic ties between the two nations. By channeling investments into strategic sectors, it has the potential to play a pivotal role in rebuilding Ukraine's economy after recent crises. Successfully executing the planned investment agreements by 2026 could lay the groundwork for deeper bilateral cooperation in the years ahead.
The ongoing collaboration between Ukraine and international partners is crucial for the nation's recovery. As highlighted in a recent report, the IMF's IFC has committed to investing in Ukraine's energy and rail sectors, which complements the objectives of the Ukraine Recovery Investment Fund. This synergy between different investment initiatives signifies a concerted effort to bolster Ukraine's economic resilience and infrastructure development.