Getting private investors to put money into an active war zone is, predictably, a tough sell. The US International Development Finance Corporation and the World Bank’s Multilateral Investment Guarantee Agency are trying to change that math, signing a new political risk insurance framework on June 25 in Gdansk, Poland, designed specifically to cover investments flowing into Ukraine’s reconstruction.
The new structure, called URIF-PRI, is built around the US-Ukraine Reconstruction Investment Fund. The logic is straightforward: if governments and multilateral institutions absorb the political risk, private capital has fewer reasons to stay on the sidelines.
What the URIF-PRI framework actually does
The URIF itself launched in 2025 with an initial capitalization of $150 million, targeting sectors that Ukraine will need to rebuild: critical minerals, energy, information and communications technology, and broader infrastructure. The new URIF-PRI layer adds insurance coverage on top of that fund structure, lowering the risk profile for any investor considering participation.
World Bank President Ajay Banga framed the partnership as essential for drawing in private-sector money, arguing that institutional backing is the mechanism that makes participation viable for investors who would otherwise pass.
