BlackRock pauses Ukraine reconstruction fund
(MENAFN) U.S. investment giant BlackRock has reportedly abandoned efforts to raise capital for a major fund intended to help rebuild Ukraine, Bloomberg reported on Saturday. The decision came earlier this year amid declining investor interest and increased uncertainty following President Donald Trump’s return to the White House.
The fund was initially planned for launch at the upcoming Ukraine Recovery Conference in Rome and had nearly secured support from government-backed firms in Germany, Italy, and Poland. However, BlackRock decided to end discussions months ago, reportedly due to a cooling of international enthusiasm and shifting U.S. policy toward Ukraine under the new administration.
Trump has consistently advocated for ending the Russia-Ukraine conflict through negotiation and has urged European NATO members to take on more responsibility for Ukraine’s military support. Earlier this week, reports emerged that Washington had paused crucial arms shipments to Kyiv, prioritizing the replenishment of U.S. military stockpiles. Nonetheless, Trump maintained that limited aid to Ukraine is still ongoing.
Bloomberg noted that the Trump administration was noticeably absent from fund discussions in December. In early 2023, BlackRock Vice Chairman Philipp Hildebrand had projected that the Ukraine Development Fund could attract at least $2.5 billion from a mix of private investors, donor nations, and grant organizations, potentially leveraging $15 billion for post-war reconstruction.
A spokesperson for BlackRock confirmed that the firm had ended its involvement with Kyiv, concluding its unpaid advisory role with the Ukraine Development Fund last year. The asset manager, which oversees around $11.6 trillion, holds significant stakes in major defense contractors such as Lockheed Martin, Raytheon, and Northrop Grumman—companies whose weapons systems have been widely used by Ukraine.
Russia has repeatedly criticized Western arms deliveries to Kyiv, accusing NATO countries of fueling the conflict and escalating it into a proxy war. The Kremlin recently suggested that the U.S. decision to pause military aid could help bring the conflict closer to a resolution.
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