BlackRock will manage the affairs of the Ukraine Development Fund
To ensure transparency and success of the project, Ukraine is attracting the best financial and consulting organizations in the world, Zelensky said
The President of Ukraine Volodymyr Zelensky met with the management of the world's largest asset management company BlackRock.
Source. This is reported by the official website of the President of Ukraine.
"The parties discussed the details of creating an investment fund to restore Ukraine's economy with the involvement of public and private capital," the statement said.
As a result of the meeting, the Ministry of Economy of Ukraine signed an agreement with BlackRock Financial Market Advisory to provide support services for the Development Fund of Ukraine.
The main purpose of the fund is to attract private and public capital for the implementation of large-scale business projects in Ukraine.
Zelensky emphasized that since independence, Ukraine has not seen truly large and strategic private capital in volumes that would match the country's scale and capabilities.
"This will be a powerful signal to improve the investment climate. This is important not only for our people, for our society, but also for business and entrepreneurs abroad. Now is a historic moment, because since the first days of independence, we have not had such huge investment cases in Ukraine. We are proud to launch such a process," the President said.
According to him, to ensure the transparency and success of the project, Ukraine is engaging the best financial and consulting organizations in the world: BlackRock, JP Morgan, McKinsey.
The President emphasized that the establishment and launch of the fund would allow attracting capital and starting the country's economic recovery and creating new enterprises immediately after the cessation of active hostilities. "We will be able to offer interesting projects for investment in energy, security, agriculture, logistics, infrastructure, healthcare, IT, as well as in many other sectors. We want global partners who can provide us with large investments," Zelensky said.
"This is a historic moment, perhaps the greatest opportunity to unite the private and public sectors at a time when technical innovation can become a catalyst for further development. I think you will be able to contribute to the global economy, to harness innovation," said Charles Hatami, Managing Director, Global Head of Financial and Strategic Investors Group (FSIG) at BlackRock and FMA.
Background. As a reminder, Ukraine signed a memorandum with DFC and USAID to support investment attraction.
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