Ukraine has taken further steps to mobilise international capital for post-war reconstruction, with a US-backed investment fund shortlisting its first projects and European lenders agreeing on hundreds of millions of euros in new financing, reported Ukraine Business News.

The US-Ukraine Reconstruction Investment Fund said its project search committee has completed an initial review of all applications submitted in January and selected 22 projects to move to the next stage of evaluation. The fund launched its online submission portal on January 6, 2026, and received 59 applications within the first three weeks, including 37 from Ukrainian companies.

Applicants targeted priority sectors such as critical minerals, energy, transport and logistics, information and communications, and advanced technologies, the fund said. By the end of March, the shortlisted projects are expected to undergo a comprehensive review before being presented to the investment committee and the fund’s board of directors for final funding decisions.

The fund said its main selection criteria focus on whether projects can secure financing, attract additional private capital and act as catalysts for rebuilding entire sectors of Ukraine’s economy. In its initial years, the fund plans to prioritise equity and quasi-equity investments. The project search committee meets monthly to ensure a steady pipeline of initiatives aligned with the fund’s strategic goals.

In parallel, Ukrainian officials are advancing cooperation with the European Investment Bank (EIB). The Ministry of Finance of Ukraine and EIB representatives have preliminarily agreed on a pipeline of projects worth about €600mn to be signed in 2026–2027. The planned investments include upgrades to road and border infrastructure and measures to strengthen the resilience of Ukraine’s energy system.

The EIB’s current portfolio in Ukraine comprises 27 projects with a total value of €4.7bn. Last year, nearly €145mn was disbursed for joint projects, and five new financing agreements worth €390.5mn were signed, including a €16.5mn grant. These funds are earmarked for digital infrastructure for emergency services, restoring road links with the EU and rebuilding social and critical infrastructure.

The EIB and Ukraine’s Ministry of Development have also reviewed measures to ensure stable heat and electricity supplies for communities. About six new agreements are planned this year under the Ukraine Investment Framework, focusing on transport modernisation, housing rehabilitation, energy efficiency and shelter construction.