On Wednesday, September 3, the first meeting of the Steering Council of the Ukraine Reconstruction Investment Fund, established by Ukraine and the United States, took place. The meeting approved the Fund’s main operational principles, governance structure, and the composition of its committees.
“The first meeting of the Steering Council marks the start of the operational work of the Reconstruction Investment Fund. The next step is to approve the final investment rules and procedures and to create a list of initial projects that meet the Fund’s objectives and are ready for launch. In September, we will discuss these plans with our U.S. partners from the DFC during their visit to Kyiv,” said Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine.
During the meeting, the regulations for four specialized committees were approved, and the allocation of managers among them was determined. The Project Search Committee includes three representatives from Ukraine and two from the U.S.; the Investment Committee has three from the U.S. and two from Ukraine; and both the Administrative and Audit Committees have two representatives from each side. This structure ensures balance in decision-making and operational processes.
A representative of the United States International Development Finance Corporation (DFC) emphasized the strategic importance of the partnership for both countries:
“The Ukraine Reconstruction Fund represents a new level of strategic partnership between the U.S. and Ukraine.”
The Fund’s Council also authorized the opening of operational bank accounts and the start of the selection process for the Fund Administrator and Investment Advisor.
Applications for project funding from businesses will be submitted through an open procedure, which will be presented after the approval of the investment protocol within the next month. This document will define clear selection criteria and the decision-making process within the relevant committee and Steering Council.
The Ukraine Reconstruction Fund (URF) is a joint initiative of the Ukrainian and U.S. governments, created to attract private investment into strategically important sectors of the Ukrainian economy. The Fund was officially launched on May 23, 2025.
