The Ministry of Economy of Ukraine and BlackRock, the world’s largest investment company, have signed a Memorandum of Understanding agreeing on a framework for consultative assistance in developing a special platform to attract private capital for the recovery and support of Ukraine’s economy.
The platform will focus on mobilizing investment in key sectors of Ukrainian economy, while taking into account the reconstruction needs resulting from the full-scale russian invasion.
In particular, the agreement signed on November 10, 2022 in Washington, DC, provides that BlackRock’s Financial Markets Advisory will consult the Ministry of Economy on creation of a roadmap for the implementation of an investment platform, which will primarily attract private capital. This includes the structure of the platform, its mandate and governance.
Thus, the Memorandum formalizes the preliminary discussion of opportunities for attracting public and private investment in Ukraine, which took place in September between President of Ukraine Volodymyr Zelenskyy and Chairman and CEO of BlackRock Larry Fink.
“It is very important for us to demonstrate to the whole world that the war does not disallow investment in Ukraine. After all, investments are the key to the future rapid and effective economic recovery. Therefore, we have high expectations for cooperation with BlackRock’s FMA division. We hope that this “recovery platform†will become an effective mechanism for mobilizing investments in key sectors of our economyâ€, said First Deputy Prime Minister - Minister of Economy of Ukraine Yuliia Svyrydenko after signing the Memorandum.
For reference
BlackRock’s FMA division provides leading expertise in investment and asset management, risk management and technology. It also has extensive experience in advising public sector clients on capital markets.
