US and Ukraine discuss first reconstruction fund project
US and Ukrainian officials are meeting in Kyiv to approve the first project for a new reconstruction fund. The initiative targets strategic mineral projects.
Senior officials from the United States and Ukraine convened in Kyiv this week to advance the U.S.-Ukraine Reconstruction Investment Fund, with both parties aiming to finalize a primary investment project. Established in April as part of a strategic minerals agreement, the fund became operational in December and targets a $200 million valuation by the end of the year.
The visiting American delegation includes Conor Coleman, head of investments at the U.S. International Development Finance Corp (DFC), Jonathan Taylor, the agency’s associate general counsel, and Jonathan Greenstein, the deputy undersecretary of the Treasury for international finance. They are meeting with a Ukrainian cohort led by Economy Minister Oleksiy Sobolev, Deputy Economy Minister Yegor Perelyhina, State Secretary Oleksandr Karasevych, and Prime Minister Yulia Svyrydenko.
A Ukrainian official indicated that the joint board’s investment committee is prepared to review the first project once due diligence is concluded.
We are working hard to bring the first deal to the investment committee for approval.
The fund is currently prioritizing three key sectors for its initial phase of operations: * Critical minerals * Hydrocarbon extraction * Dual-use technologies
In support of these goals, the DFC launched a digital portal in January to streamline the application process for new reconstruction projects. These diplomatic efforts in Kyiv follow recent bilateral discussions held in Miami, Florida, which explored avenues to resolve the four-year conflict with Russia. However, international focus has recently been divided by escalating tensions involving Iran.
The human toll of the ongoing war remains a central concern for the international community. United Nations Undersecretary-General Rosemary DiCarlo informed the Security Council that approximately 15,364 civilians, including 775 children, have perished since the invasion began in February 2022. U.S. Undersecretary of State Christopher Landau reaffirmed the commitment to a negotiated peace.
We reiterate our call on both sides to negotiate in good faith, in a spirit of flexibility, compromises and a duty to protect and preserve the lives of their citizens.
