BlackRock and JPMorgan are planning to present the Ukrainian Bank for Reconstruction and Development project this week – Financial Times
Its aim is to attract billions of dollars in private investment to support Ukraine's recovery projects
The Ukrainian Development Fund is in the planning stage and is not expected to be fully launched until the end of military actions in Ukraine. This week, however, investors will have the opportunity to get preliminary information at a conference in London, jointly organised by the British and Ukrainian governments.
This was reported by the Financial Times.
The official fundraising target has not been set, but according to the publication, the fund aims to attract available capital from governments, donors, and international financial institutions and use it to attract five to ten times more private investment.
BlackRock advised Ukraine to create a development financing bank to find investment opportunities in sectors such as infrastructure, environment and agriculture, and make them attractive to pension funds and other long-term investors and creditors. JPMorgan was involved partly due to its expertise in the area of debt obligations.
"The fund is being created to give both public and private sector investors the opportunity to invest in specific projects and sectors," said Stefan Weiler, Head of Debt Capital Markets at JPMorgan in Central Europe, the Middle East, and Africa. "There will be various industry funds, which the fund has identified as priorities for Ukraine. The goal is to maximise capital participation."
To allay investor concerns about management, it is expected that the fund will attract representatives of international financial institutions and governments to its board, as well as hire investment professionals to implement its strategy.
Background. Mind previously reported that BlackRock would be managing the affairs of the Ukraine Development Fund.
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