The joint US-Ukrainian reconstruction investment fund has secured its first critical minerals deal, with a focus on aiding Ukraine amid the ongoing war with Russia. According to Conor Coleman, head of investments at the US International Development Finance Corporation (DFC), the fund has invested around $70 million across multiple projects, with a significant $30 million directed towards a partnership with BGV Group, focusing on early-stage mining projects for critical minerals such as rare earths and uranium.
In addition to mining, the fund has initiated two projects aimed at enhancing Ukraine’s power and heating infrastructure, particularly in response to increased Russian attacks. This includes a near $100 million loan to energy firm DTEK for a battery system that can provide backup power to 600,000 homes. The fund plans to expand its capital to further support Ukraine’s reconstruction efforts.
