Financial giant BlackRock has halted efforts to secure investors for a multi-billion-dollar fund aimed at Ukraine’s recovery, Bloomberg reports, citing sources familiar with the matter, RKS News writes.
The decision came in January, following Donald Trump’s victory in the U.S. presidential election, which increased uncertainty over the future of support for Ukraine.
The fund, which was expected to be officially launched at the Ukraine Recovery Conference in Rome, had already received preliminary interest from the governments of Germany, Italy, and Poland, as well as private investors aiming to contribute up to $2 billion.
However, the lack of support from the U.S. and Trump’s rhetoric about immediately ending the war through questionable negotiations between Zelensky and Putin influenced the company’s withdrawal.
According to Philipp Hildebrand, Vice Chairman of BlackRock, the fund was expected to raise at least $500 million from public and development sources, but political uncertainty halted its progress.
