BlackRock will be creating a roadmap for reconstruction for Ukraine.
Ukraine has a new Western backer. It’s not a nation-state, or a military contractor. It’s the financial firm BlackRock.
Ukraine announced Wednesday that Ukrainian President Volodymyr Zelensky had a video teleconference with BlackRock Chief Executive Officer Larry Fink. The pair apparently struck a deal to coordinate investment efforts to rebuild the war-torn nation.
A readout of the meeting on the Ukrainian president’s website boasted BlackRock’s involvement, calling the firm “one of the world’s leading investment managers” and noted that it “manages client assets worth about 8 trillion dollars.”
“Zelenskyy 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, channelling investment into the most relevant and impactful sectors of the Ukrainian economy,” the readout claimed.
The release also stated that some BlackRock executives would visit Ukraine in 2023 to fulfill their advisorial duties. “In accordance with the preliminary agreements struck earlier this year between the Head of State and Larry Fink, the BlackRock team has been working for several months on a project to advise the Ukrainian government on how to structure the country’s reconstruction funds,” according to the Ukrainian government.