New investments in the US-Ukraine Reconstruction Investment Fund approved

In the statement made by the Ministry, it was stated that the investments will help secure critical supply chains, strengthen Ukraine's energy resilience and develop the critical mining sector.

In this context, it was stated in the statement that a joint investment platform will be established with the Ukrainian company BGV Group Management, and that the platform aims to create a diversified portfolio consisting of early-stage mining projects across Ukraine and to support the development of the country's critical minerals sector.

It was stated in the statement that the platform will focus on rare earth elements, uranium, beryllium and zirconium deposits in the first stage, and that it aims to contribute to significantly increasing Ukraine's critical mineral production, creating employment for Ukrainians and investment opportunities for US, Ukrainian companies and international investors.

The statement also emphasized that the aim is to strengthen the safe supply chains of critical minerals that are vital for the markets of the USA and its allies.

The fund's equity investment in a multi-point combined heat and power generation platform will also support the construction and operation of a series of local-scale energy centers designed to restore electricity and heat supplies damaged by the war, the ministry said in a statement.

It was stated in the statement that the fund also provided financing for the battery energy storage system established by DTEK, Ukraine's largest private energy company, at 6 points across the country, and that the system in operation has the capacity to provide electricity equivalent to the amount that approximately 600 thousand households can consume for 2 hours and that it brings more durability and stability to the country's electricity network.

The statement regarding the approval of these investments came one year after the two countries created the initial capital of the US-Ukraine Reconstruction Investment Fund and started the fund's activities.

The fund made its first investment in the developing technology company Sine Engineering in March this year.

In June, the US International Development Finance Corporation signed a cooperation agreement with the Multilateral Investment Guarantee Agency to develop a political risk insurance framework that will encourage and support private sector investments and capital mobilization in Ukraine in connection with the fund's investments.

*Photo: EPA, representative