First project moves to due diligence review

The first project of the American-Ukrainian Reconstruction Investment Fund (AUIF) is preparing for a due diligence procedure prior to the signing of an investment agreement. This was reported on Telegram by Prime Minister Yuliia Svyrydenko, who emphasized that the fund's team "has moved to concrete work on the proposals."

"The first project is preparing to undergo the due diligence procedure. Another 21 are being worked on."

— Yuliia Svyrydenko, Prime Minister

Why this matters

This is not just about one deal. Moving to due diligence is a signal to international investors: projects are checked for risks, revenue predictability, and compliance with standards. In practical terms, this means investments can move from declarations to concrete contracts, and therefore into real jobs, the restoration of energy systems, and infrastructure.

Numbers and sectors

In the first month of accepting applications the fund received over 60 project proposals, 37 of them from Ukrainian companies. All submitted projects concern energy, infrastructure, critical minerals, and innovative technologies. The Prime Minister also set a goal — to sign the first three investment agreements by the end of the year.

Context and timeline

The intergovernmental agreement establishing the AUIF was signed in April 2025. The fund began operations on 3 September 2025, and the online portal for submitting projects was launched on 6 January 2026. Earlier, on 15 September, a U.S. delegation had already inspected potential deposits under the subsoil agreement — this is part of a broader bilateral cooperation package.

What comes next and what to watch for

The due diligence procedure can take weeks or months — depending on the complexity of the project and the readiness of the parties. A positive result of the review will increase the chances of mobilizing additional capital from private investors and international financial institutions. For the country, this is a test of its ability to implement large infrastructure initiatives in wartime conditions and to convert international support into sustainable economic development.

Now it's up to the partners: declarations and intergovernmental agreements must turn into signed contracts. Whether this can be done by the end of the year depends on the quality of the due diligence, market readiness, and the public sector's ability to create clear rules of the game.