BlackRock has frozen the launch of a Ukraine recovery fund due to the uncertainty of the country’s future

BlackRock has frozen the launch of a Ukraine recovery fund due to the uncertainty of the country’s future

The American investment corporation BlackRock has suspended work on creating the Ukraine recovery fund, Bloomberg reports, citing sources.

The reason for this decision was increased uncertainty about the country’s future, particularly against the backdrop of Donald Trump’s return to power in the USA.

Initially, the fund was planned to be presented at the international conference on Ukraine’s recovery, which will be held on July 10-11 in Rome. The project was close to receiving significant financial support from government bodies in Germany, Italy, Poland, as well as from private investors and international donors.

According to BlackRock vice-chairman Philipp Hildebrand, the fund could attract at least $500 million from public and institutional sources and up to $2 billion in private investments. The total potential investment into the Ukrainian economy was estimated at $15 billion.

However, as early as the beginning of 2024, negotiations with investors were halted, and BlackRock has not returned to them since then.