Home Business News World’s largest asset management company to create and ‘investment fund to restore economy of Ukraine’

World’s largest asset management company to create and ‘investment fund to restore economy of Ukraine’

by LLB Finance Reporter
7th May 23 1:36 pm

BlackRock who are the world’s largest asset management company will create an “investment fund” to restore the “economy of Ukraine” after a meeting with President Volodymyr Zelensky.

Ukraine’s Economy Ministry have signed an agreement with BlackRock to provide support to rebuild the war torn country.

“The parties discussed the details of the creation of an investment fund to restore the economy of Ukraine with the involvement of public and private capital,” the press service of the Office of the President said.

Interfax-Ukraine reported that the main goal of the fund will be to attract private and public capital to implement large scale business projects in Ukraine and Zelensky said the meeting with BlackRock is a signal of strength.

President Zelensky said, “This will be a strong signal of strengthening the investment climate. It is important not only for our people, our society, but also for business, entrepreneurs abroad.

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“Today is a historic moment because, since the very first days of independence, we have not had such huge investment cases in Ukraine. We are proud that we can initiate such a process.”

“We will be able to offer interesting projects to invest in energy, security, agriculture, logistics, infrastructure, medicine, IT, and many other areas. We want global partners to come who can provide us with large investments,” he added.

Vice Chairman of BlackRock Philipp Michael Hildebrand, who is a member of the firm’s Global Executive Committee, said, “This is a historic moment, perhaps the greatest opportunity to bring the private and public sectors together at a time when technical innovation can be a catalyst for further development.

“I think that you will be able to contribute to the global economy, use innovation.”

On Thursday Kyiv Mayor Vitali Klitschko called on the Mayors of 15 European cities to help bring in businesses who will participate in strategically important projects for Kyiv.

The main areas Klitschko is calling for is in particular, the field of medicine and rehabilitation, energy, environmental and civil security.

The press service of the city council said, “Kyiv Mayor Vitali Klitschko, together with Brussels Mayor Philippe Close, talked online from Kyiv with the mayors of 15 European cities that signed the joint Declaration of Understanding in Support of Reconstruction and Sustainable Development of Kyiv in November last year, according to the statement on the website of Kyiv City Council posted on Thursday.

“During today’s online meeting, we discussed projects for the implementation of which Kyiv needs international support,” Ukraine‘s press service quoted Klitschko as saying.

He said that Kyiv will direct significant funds from the city budget to finance critical infrastructure projects, especially for construction and repair works.

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