BlackRock Halts Investments in Ukraine Recovery Fund
One of the largest investment firms in the world, BlackRock Inc., has decided to halt its search for new investors for the Ukraine recovery fund at the beginning of 2025, following Donald Trump’s victory in the US presidential elections.
This was reported by Bloomberg.
In January 2025, after Trump’s election, BlackRock chose to suspend discussions with potential investors due to a lack of interest amid growing uncertainty regarding Ukraine's future.
According to the publication, in December 2024, the US government was noticeably absent among the fund's sponsors.
The Ukraine Development Fund was on track to secure at least $500 million from countries, development banks, and other grant providers, as well as $2 billion from private investors.
Ultimately, the fund was expected to raise at least $15 billion for Ukraine's reconstruction.
It was set to be presented at the Ukraine Recovery Conference in Rome next week (July 7 – 11). The governments of Germany, Italy, and Poland were expected to support the fund, according to Bloomberg sources.
A BlackRock spokesperson stated that the company concluded its pro bono consulting work for the Ukraine Development Fund in 2024 and is currently not engaged in any active mandates with the Ukrainian government.
Moreover, Bloomberg added that France is working on a proposal for a fund that would replace the canceled BlackRock initiative.
