Volodymyr Zelensky, BlackRock CEO Larry Fink agree to help rebuild Ukraine

Ukrainian President Volodymyr Zelensky and BlackRock CEO Larry Fink have agreed to work together on investments aimed at rebuilding the war-torn country after the Russian invasion, the Ukrainian government announced on Wednesday.

The deal follows a video meeting between Zelensky and Fink. BlackRock has played an advisory role on how Ukraine should handle reconstruction-related investments.

“Volodymyr Zelensky and Larry Fink have agreed to focus in the short term on coordinating the efforts of all potential investors and participants in the reconstruction of our country, channeling investments to the most relevant and most relevant sectors. influential players in the Ukrainian economy,” the Ukrainian government said. its website.

“During the conversation, it was highlighted that some BlackRock executives were planning to visit Ukraine in the New Year,” the statement added.

The Post has contacted BlackRock for comment. The company is the world’s largest asset manager with $10 trillion in assets.

BlackRock signed a memorandum of understanding with Ukraine last month.
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Zelensky also confirmed that Ukraine will attend the World Economic Forum in Davos next month, Bloomberg reported. Zelensky did not say whether he planned to personally attend the event during his national address.

Last month, BlackRock announced that it had entered into a “memorandum of understanding” with the Ukrainian Ministry of Economy.

The Nov. 10 agreement included plans for “establishing a roadmap for implementing the investment framework, including identifying design choices for configuration, structure, mandate and governance envisaged”.

Ukrainian President Volodymyr Zelensky met with Larry Fink via videoconference.
President Zelensky met with Larry Fink via videoconference.
Bloomberg via Getty Images

BlackRock will also provide “advisory support for the design of an investment framework, with the aim of creating opportunities for public and private investors to participate in the future reconstruction and recovery of the Ukrainian economy.”

Ukraine’s economic record remains uncertain after Russian President Vladimir Putin sent in his forces in February. According to estimates by the World Bank and the European Commission, the cost of reconstruction could approach 349 billion dollars, according to the Financial Times.

The deal between BlackRock and Ukraine emerged days after Zelensky flew to Washington for a meeting with President Biden. Ukraine’s president also delivered a speech to Congress calling for more collaboration and support for the country’s war effort.

black rock
BlackRock is the world’s largest asset manager.
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Congress last week approved an additional $45 billion in aid for Ukraine.

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