DFC Participates in CSIS Fireside Chat on Implementing U.S.-Ukraine Critical Minerals Partnership

WASHINGTON, D.C. - U.S. International Development Finance Corporation (DFC) Chief of Staff and Head of Investments Conor Coleman yesterday participated in a Center for Strategic and International Studies (CSIS) fireside chat with Ukraine Ambassador Olha Stefanishyna entitled "Implementing the U.S.-Ukraine Critical Minerals Partnership." The conversation was moderated by Dr. Seth G. Jones, president of the CSIS Defense and Security Department, and was part of a larger CSIS event entitled "Securing Critical Mineral Supply: A Government-Industry Dialogue."

On operationalizing the United States-Ukraine Reconstruction Investment Fund (URIF):

"Last year was all about us operationalizing [URIF]. How do we actually make this not just an announcement, but a real thing that is going to impact Ukraine's reconstruction for the next decade plus. Now the narrative is turning towards dollars out the door... With the help of Alvarez & Marsal, we are screening and reviewing 50 plus projects that have already been submitted to the fund and we're moving to actually deploying capital."

On URIF's critical minerals focus:

"When you think about investing in critical minerals, you have to think about the concept of pit to port... We are going to be focused on every segment of the value chain, from the extraction, to the midstream processing, and the downstream manufacturing. Some of the key minerals we've identified are titanium, lithium, and graphite, but we're also actively exploring what else Ukraine has to offer. So, we're looking at the minerals themselves and the full value chain, but also the surrounding energy and infrastructure investments that are necessary."

On potential challenges and opportunities with investing in Ukraine:

"With every investment in emerging markets or foreign countries, there are significant challenges that arise either from a regulatory perspective or portfolio management perspective. But I think that's one of the benefits of this joint Ukrainian-U.S. government venture - you have both flags in the capital structure. It's a commitment to the private sector that, as issues arise, you have a direct line to the two key governments that are going to work together to facilitate these projects. We have a great working relationship with the ambassador and the entire Ukrainian team."

On how URIF fits into the Trump administration's broader objectives:

"URIF fits right in line with what President Trump is trying to accomplish. It's partnering with allies to secure supply chains and promote economic prosperity... It's the president's mission to make [URIF] very successful and be the flagship of Ukraine's reconstruction. The DFC is committed to making it successful."

These remarks have been lightly edited for clarity.

Background:

Last April, the Trump administration signed an agreement with Ukraine to establish URIF. The joint venture between the U.S. and Ukrainian governments was created to support Ukraine's reconstruction and long-term economic recovery, strengthen U.S. natural resources supply chains, and advance U.S. economic growth, security, and innovation.

Over the last 9 months, DFC made a seed capital equity investment, activated the fund and launched the online URIF application portal. URIF will consider proposals for the fund's target sectors, which include investments in critical minerals (upstream and midstream), energy (including power generation, transmission, and hydrocarbon extraction), transport and logistics, information and communications technology, and emerging technologies. While URIF is authorized to invest throughout the capital stack for eligible projects, the fund expects to prioritize equity and equity-like investments in its early years of operations.

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The U.S. International Development Finance Corporation (DFC), established in 2019 with bipartisan support under President Trump, is the international investment arm of the U.S. Government. DFC partners with the private sector to advance U.S. foreign policy and strengthen national security by mobilizing private capital around the world. DFC invests across strategic sectors including critical minerals, modern infrastructure, and advanced technology - fostering economic development, supporting U.S. interests, and delivering returns to American taxpayers.