International investment company BlackRock froze the creation of a Ukraine recovery fund after Donald Trump won the US election. The project was supposed to involve EU countries and large private investors.
International investment company BlackRock froze the creation of a Ukraine recovery fund after Donald Trump won the US election. The project was supposed to involve EU countries and large private investors.
BlackRock has suspended work on creating a multibillion-dollar fund for post-war reconstruction in Ukraine after Donald Trump became US president for the second time in November 2024. Bloomberg reports this, citing sources familiar with the negotiations.
In January 2025, the company suspended negotiations with institutional investors due to declining interest amid political uncertainty. This decision effectively put one of the most ambitious investment projects for Ukraine on hold.
The fund was to be presented at the Ukraine Recovery Conference, which will be held on July 10-11 in Rome. According to Bloomberg, at the time of the negotiations, the project had preliminary support from government structures in Germany, Italy and Poland, as well as private investors. It was planned to potentially attract more than $15 billion to restore Ukrainian infrastructure.
After the victory of Trump, who announced a quick end to the war through negotiations between Zelensky and Putin and was critical of further military assistance to Ukraine, the US government did not join the initiative.
In response to a journalist’s request, a BlackRock representative confirmed the completion of free advisory work on the fund in 2024. Currently, the company does not have an active mandate, and makes decisions based on client needs.
France is currently developing an alternative fund to support Ukraine, but without US participation, its prospects remain questionable.
It is the world’s largest asset manager with a portfolio of over $10 trillion. The company provides capital management, risk management and consulting services. In 2023, it became one of the key advisors to Ukraine on the creation of post-war reconstruction financing mechanisms.
The idea of the Ukraine Development Fund was publicly announced back in 2023. The plan was to attract funding from international development banks, donors, and the private sector. According to the World Bank, Ukraine’s total losses from the war exceed $500 billion.
We will remind you that we also published an article about how Nvidia and xAI joined the Artificial Intelligence Infrastructure Fund, supported by BlackRock, Microsoft, and the Abu Dhabi-based MGX investment group in the field of artificial intelligence, the registration of which was announced on March 19, and signed a contract for a $30 billion AI infrastructure fund.
