Ukraine-US fund approves investment policies as it eyes first projects in 2026

KYIV, Dec 18 (Reuters) - ⁠The Ukraine-U.S. ⁠reconstruction ‍fund, established as part of the minerals deal the two countries signed in ‍April, on Thursday approved its asset policies ​and is poised to begin reviewing its first investment opportunities ​in 2026, the U.S. governmental body overseeing the fund said.

The Development Finance Corporation (DFC) said in a statement that the ​fund's second meeting "reached final consensus necessary to bring the fund to full operational status".

Potential deals ​could focus on critical minerals extraction and energy development as well ‌as on maritime infrastructure, the DFC said.

Kyiv signed the minerals deal in April ​after months of pressure from ⁠President Donald Trump, giving the United States preferential access to new Ukrainian minerals ‌projects in exchange for investment. Ukraine signed in the hope of winning Trump's backing as it repels ‌Russia's nearly four-year-old full-scale invasion.

In autumn, a U.S. team travelled ‌to Ukraine for consultations and visited some sites of potentially promising projects.

Ukraine has deposits of 22 of 34 ‍minerals considered critical by the EU for industries such as defence, high-tech appliances ⁠and green energy. However, most of the sites have not been fully assessed and they will need significant funding to be developed.

(Reporting by Yuliia Dysa; Editing by Hugh Lawson)

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