WASHINGTON, D.C. – The U.S.–Ukraine Reconstruction Investment Fund (URIF) held its fourth board meeting on Wednesday, June 24, on the sidelines of the Ukraine Recovery Conference in Gdańsk, Poland. At the meeting, URIF’s Board of Directors discussed the landmark cooperation agreement between the U.S. International Development Finance Corporation (DFC) and the Multilateral Investment Guarantee Agency (MIGA) – the home of the World Bank Group Guarantee Platform – that will support Political Risk Insurance (PRI) for URIF investments. The cooperation agreement will help URIF leverage catalytic donor capital and mobilize significant private financing to develop and rebuild Ukraine’s critical infrastructure and industries. The Board also approved items to further operationalize URIF, including a critical minerals offtake initial whitelist.
"Today marks another important milestone in advancing the historic agreement that Prime Minister Svyrydenko and I signed in April 2025 to establish URIF, which gives our nation a direct stake in Ukraine’s long-term peace and prosperity,” said U.S. Treasury Secretary Scott Bessent. “The announcement of the DFC-MIGA PRI framework demonstrates how the United States is working quickly and creatively to bolster URIF’s capacity to catalyze investment and deliver on its mandate to build strong foundations for Ukraine’s recovery and future prosperity.”
“By introducing the DFC–MIGA war risk insurance framework, we have provided investors with the confidence to invest in the Fund’s four priority sectors—energy, infrastructure, critical minerals, and dual-use manufacturing. This is another major milestone for the URIF, that in just over a year since its establishment, has already approved its first investment, demonstrating tangible progress and its ability to mobilize private capital for Ukraine’s recovery. URIF is a cornerstone of the long-term U.S.–Ukraine partnership, helping strengthen strategic industries, attract investment and technology, and build lasting economic resilience for Ukraine,” said Yulia Svyrydenko, Prime Minister of Ukraine.
“For the first time since URIF’s launch one year ago, allied capital will invest alongside the Unites States and Ukraine to support Ukraine’s recovery and reconstruction,” said DFC CEO Ben Black. “DFC’s partnership with MIGA to provide political risk insurance and reinsurance for URIF investments will crowd in private investment at scale and strengthen the long-term economic security of Ukraine.”
At its prior Board of Directors meeting in March, URIF announced its first investment in Sine Engineering, a Ukrainian emerging technology dual-use drone-autonomy company at the cutting edge of innovations in radio communication control systems for Unmanned Aerial Vehicles. Drawing from a current pipeline of nearly 300 potential projects, URIF is now advancing diligence across its priority sectors — energy, technology, transport and logistics, and critical minerals — with the aim of approving several additional investments in 2026.
URIF is a key pillar of the Trump administration’s economic partnership with Ukraine, harnessing American talent, resources, and governance to mobilize capital and create strategic investment opportunities for the United States, its allies, multilateral development banks, and private investors. The Fund is focusing on investments that support shared U.S. and Ukrainian economic security and prosperity.
For more information and to submit a project proposal, please visit URIF’s website: https://urifinvest.com.