The Ukrainian-American Reconstruction Investment Fund (URIF) is currently reviewing nearly 300 potential projects and is conducting comprehensive assessments across its priority sectors (energy, technology, transport and logistics, and critical minerals) with the goal of approving several additional investments in 2026.
As reported, the fourth meeting of the URIF Governing Board took place on the sidelines of the Ukraine Recovery Conference (URC) in Gdańsk. During the meeting, the board discussed a cooperation agreement between the U.S. International Development Finance Corporation (DFC) and the Multilateral Investment Guarantee Agency (MIGA), which will provide political risk insurance (PRI) for the fund’s investments and help attract donor capital while mobilizing private financing.
The board also approved further steps toward the fund’s operational launch, including the initial whitelist of offtake partners in the critical minerals sector.
At its previous meeting in March, the URIF Governing Board announced its first investment in Ukrainian company Sine Engineering, which develops cutting-edge dual-use technologies to enhance drone autonomy and operates in the field of radio communications systems and unmanned aerial vehicle (UAV) control systems. The fund’s target for 2026 is to sign at least three investment agreements.
URIF was established under an intergovernmental agreement in April 2025 with initial capital of $150 million, contributed in equal shares by Ukraine and the U.S. International Development Finance Corporation (DFC). Alvarez & Marsal serves as the fund’s investment advisor.
