Ukraine's Zelenskyy and Blackrock CEO Agree to Coordinate an Investment in the Country
Per CNBC
Ukraine's President and BlackRock's CEO have both agreed to coordinate investments in the country. This comes just a week after Ukraine President Zelenskyy met with US President Joe Biden as he visited Washington, D.C.
Blackrock CEO Larry Fink and Volodymyr Zelenskyy entered into an agreement to rebuild Ukraine. The news came from an official post on President Zelenskyy's website announcing the partnership between both parties.
The website noted that the investment will go towards the reconstruction of Ukraine and focus on the most relevant and impactful sectors of the country's economy.
The deal actualized after both Zelenskyy and Fink met in September before the Ukrainian Ministry of Economy and the BlackRock Financial Markets Advisory signed a memorandum of understanding in November. The meeting came after discussions regarding public and private investments to the country.
The company said that they provided advisory support to Ukraine. This came with the goal of creating opportunities for public and private investors to participate in the country's economical recovery and reconstruction.
While no specific amount was highlighted regarding BlackRock's investment in the country, Zelenskyy was able to recently secure a $45 billion in emergency aid along with a larger spending package as part of Biden's support to Ukraine, per ABC News.
This came after Zelenskyy previously pleaded for more aggressive measures to help the country in its war. The President of Ukraine mentioned Pearl Harbor and the Sept 11 attacks in his speech.
Zelenskyy: "Just remember it … Our country experiences the same every day right now."
The speech included a statement by Zelenskyy saying both the Americans and the Ukrainians will win "absolutely." The country recently launched a campaign that planned to attract up to $400 billion of foreign investment, per FT.
The government has identified different initiatives in the fields of technology, clean energy, agro-industry, defense, natural resources, and metallurgy in an attempt to attract foreign investors. Ukraine's economy is expected to shrink by 35-45% in 2022.
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