One of the world's largest investment companies, BlackRock, stopped searching for investors for a multi-billion dollar fund for Ukraine's renewal back in early 2025.
Bloomberg reports this, citing sources.
Why BlackRock Stopped Seeking Investors for Ukraine Recovery Fund
The fund nearly received support from organizations representing the governments of Germany, Italy and Poland. However, in January, BlackRock decided to suspend talks with institutional investors due to a lack of interest amid growing uncertainty about Ukraine’s future.
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The publication notes that back in December, the US government was not visible among the fund’s potential sponsors.
The Ukraine Development Fund planned to raise at least $500 million from governments, development banks, and other grant providers, as well as $2 billion from private investors. A consortium of equity and debt investors was expected to finance the restoration work to the tune of at least $15 billion.
At the same time, according to estimates by the World Bank and other organizations, more than 500 billion dollars are needed to restore Ukraine.
A BlackRock spokesperson confirmed that the company completed its pro bono advisory work on the fund in 2024 and does not currently have any active mandate with the Ukrainian government.
Bloomberg sources say BlackRock planned to present the fund at the Ukraine Reconstruction Conference in Italy on July 10-11, but no exact dates have been set. Meanwhile, France is working on its own initiative to create a fund, but it is unclear whether it will be effective without U.S. participation.
