BlackRock Inc., one of the world's largest investment companies, has stopped looking for investors for a Ukraine recovery fund in early 2025 after Donald Trump won the US presidential election.

Source:Bloomberg

Details: BlackRock decided to suspend talks with investors about a Ukraine recovery investment fund in January 2025, following Trump's victory in the US presidential election, due to a lack of interest amid growing uncertainty about Ukraine's future.

Bloomberg reports that the US government was notably absent from the fund's sponsors in December 2024.

The Ukraine Development Fund was on track to raise at least US$500 million from countries, development banks and other donors, and US$2 billion from private investors.

The fund was supposed to raise at least US$15 billion for Ukraine's recovery.

It was to be presented at a conference on Ukraine's recovery in Rome next week (7-11 July). Bloomberg reported that the fund was to be backed by the governments of Germany, Italy, and Poland, citing sources.

Bloomberg reports that a BlackRock spokesperson said the company completed its free advisory work on the Ukraine Development Fund in 2024 and is not currently involved in "any active mandates" with the Ukrainian government.

Bloomberg added that France is working on a proposal for a fund to replace the cancelled BlackRock initiative.

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