BlackRock stops looking for investors for Ukraine's recovery – Bloomberg

The US corporation BlackRock Inc. stopped looking for investors for the multibillion-dollar Ukraine Recovery Fund earlier this year after Donald Trump's victory in the US elections. This is reported by Bloomberg with reference to informed sources.

The fund was to be presented at the Conference on Ukraine's Recovery in Rome next week. According to the sources, the fund has almost received initial support from structures funded by the governments of Germany, Italy and Poland.

However, back in January, BlackRock suspended talks with institutional investors due to a lack of interest and growing uncertainty about Ukraine's future,.

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Last year, BlackRock Deputy Chairman Philippe Hildebrand said the fund was to secure at least $500 million from countries, development banks and donors, as well as $2 billion from private investors. The World Bank and other organizations estimate that the total cost of rebuilding Ukraine after a full-scale Russian invasion could exceed $500 billion .

A BlackRock spokesperson confirms that the company has completed its pro bono advisory work on the 2024 Ukraine Recovery Fund and is not currently fulfilling any active mandate with the Ukrainian government.

According to the sources, the presentation of the fund was planned to take place on July 10-11 in Italy, during the Conference on the Restoration of Ukraine, which is to be attended by Italian Prime Minister Georgia Meloni and President Zelensky. However, the exact dates have not been officially announced .

France is currently working on an alternative initiative to replace the canceled BlackRock fund. However, according to sources, without US support, the effectiveness of the new plan is questionable.

• In September 2023, US big business promised Zelenskyy large-scale investments in Ukraine after the war. Separately, Zelenskyy met with Larry Fink, the head of the world's largest asset management company, BlackRock.