With the support of the investment giant BlackRock, Ukraine is launching a national development fund for post-war reconstruction.

On May 6, the Government announced plans to launch a national financial development institute – the Ukraine Development Fund. The UDF will attract and mobilize public and private capital to reconstruct Ukraine using various innovative and traditional financial instruments.

The Ministry of Economy has appointed a consulting group from BlackRock, which will advise the government on the launch of the Fund free of charge. The appointment of BlackRock was discussed on May 5 in Kyiv at a meeting between the President of Ukraine, Volodymyr Zelenskyy, and the BlackRock delegation.

The head of the BlackRock consulting group, Charles Hatami, noted that “reconstruction will create significant opportunities for investors to participate in the recovery of the economy.” However, he added that only with the close cooperation of public and private capital will it be possible to obtain the necessary financing.