U.S. investment company BlackRock Inc., which is one of the world's largest, stopped looking for investors to finance a multi-billion dollar fund to rebuild Ukraine earlier this year after Donald Trump's election victory. About this writes Bloomberg, reported [[link_local link_article_id="1691282 "]] Dengi.ua [[/link_local]].
It is noted that the Fund, which was to be presented at the conference on the reconstruction of Ukraine, which will be held July 10-11 in Rome, was close to receiving initial support from structures associated with the governments of Germany, Italy and Poland, sources told the publication.
At the same time, BlackRock decided in January to suspend talks with institutional investors due to a lack of interest amid increased uncertainty over Ukraine's future.
"Last year, Philip Hildebrand , BlackRock's deputy chairman, who was among the financiers leading the discussions, said the Ukraine Development Fund was on track to receive at least $500 million from countries, development banks and other grant providers, as well as $2 billion from private investors. At the time, Hildebrand said it could bring together a consortium of equity and debt investors that could finance at least $15 billion for reconstruction work in Ukraine," the publication writes.
At the same time, the total amount of financing for the reconstruction of Ukraine after the invasion of Russia was estimated by the World Bank in February at more than 500 billion dollars.
In turn, a BlackRock spokesman said that the company has completed its pro bono advisory work on the Ukraine 2024 Development Fund and is not currently involved in "any active mandate" with the Ukrainian government.
"According to sources, France is working on a proposal for a fund to replace the canceled BlackRock initiative, but it remains to be seen how effective the new plan will be without US support," the publication summarized.
Reference:
BlackRock - American international investment company headquartered in New York under the management of which is assets with a total value of not less than 10.5 trillion dollars.