BlackRock expects to attract $15B from investors to reconstruct Ukraine through a reconstruction bank.

According to Philipp Hildebrand, VP of the BlackRock investment company, the Development Fund of Ukraine will be composed of at least $500M from countries, development banks, and other grant providers and $2B from private investors. He added that the fund could bring together a consortium of shareholders and debt investors to finance at least $15B for reconstruction work in Ukraine.

Hildebrand said the development fund would most likely be registered in Luxembourg with an investment committee, analysts, and researchers. The aim is to create one of history’s most significant public-private cooperation projects, similar to Germany’s KfW, which was created after World War II.

The priority areas for the fund will be agriculture, production, infrastructure, and energy. Currently, about 20 projects have been selected out of 200 that have been evaluated.