BlackRock Advising Zelensky On Ukraine's Reconstruction
Ukrainian President Volodymyr Zelensky and BlackRock CEO Larry Fink agreed to coordinate investments geared toward rebuilding Ukraine, an announcement from Zelensky’s office published said following a call between the two parties, Alexandra Semenova reported for Yahoo Finance.
Photo Insert: The effort to thwart Russia's invasion continues to take its toll on the war-torn country, which has no other recourse but to defend itself.
The readout of the call comes after Fink and Zelensky held a meeting earlier this year to discuss a project that involves BlackRock's Financial Markets Advisory group guiding the Ukrainian government in allocating reconstruction funds and creating opportunities to drive further investment.
“Volodymyr Zelensky and Larry Fink agreed to focus in the near term on coordinating the efforts of all potential investors and participants in the reconstruction of our country, channeling investment into the most relevant and impactful sectors of the Ukrainian economy,” the Ukrainian government said.
In November, Ukraine’s economic ministry signed a memorandum of understanding (MOU) with BlackRock that indicated the money manager will help the country establish a “roadmap for the investment framework’s implementation, including identifying design choices for the envisioned setup, structure, mandate and governance.”