An Australian businessman is ready to invest $500M in the Ukraine Development Fund.

Andrew Forrest, head of Tattarang and Fortescue Metals, will invest $500M in the UDF, which is being created in tandem with the investment company BlackRock.

The Ministry of Economy of Ukraine clarified that Forrest will become a strategic advisor on the creation of UDF and its investment groups – green strategic metals, green iron, green hydrogen, and green electricity, and will be part of the advisory group for the Ukrainian government.

In turn, at the URC2023 the investor called on his international colleagues to consider opportunities for excellent long-term investment opportunities in Ukraine. Notably, the idea of the UDF was conceived and developed by Forrest himself, inspired by the World War II era Marshall Plan. As early as March 2022, he approached BlackRock Chairman Larry Fink for advisory support in setting up an investment vehicle.