The US-Ukraine Reconstruction Investment Fund has advanced 22 investment projects to the next stage of evaluation after completing the first review cycle of applications submitted through its newly launched Investportal in January, Ukraine's Economy Ministry said.
Since the launch of the portal on Jan 6, the Fund received 59 investment applications, including 37 from Ukrainian companies active in the Fund's priority sectors: critical minerals, energy, transport and logistics, information and communication technologies, and advanced technologies, the ministry said in a press release.
Following the initial screening, 22 projects were selected for further processing and in-depth assessment. The results of the comprehensive review will be presented to the Investment Committee and the Fund's Governing Board for final funding decisions in late March.
"The completion of the first cycle of application review confirms the Fund's readiness for real work. We have seen high-quality projects in critical sectors that have the potential to attract additional private capital. We assess not only the financial viability, but also the strategic importance of each project for the country's economy," said Ukrainian Economy Minister Oleksii Sobolev.
In the first years of its operation, the Fund plans to prioritize investments in equity and equity-like instruments, the ministry noted.
Sobolev said earlier that the Fund plans to make its first three investments this year.
The Fund was established under an agreement between the governments of Ukraine and the US. Its authorized capital totals $150 million, contributed in equal shares by both parties—$75 million from the U.S. through the U.S. International Development Finance Corporation (DFC) and $75 million from Ukraine.
