BlackRock Abandons Ukraine Reconstruction Fund

(MENAFN) Earlier this year, BlackRock, a major US-based investment holding company, ceased efforts to attract investors for a multi-billion dollar fund intended to aid in Ukraine's reconstruction, according to a news agency.

The initiative reportedly lost traction after President Donald Trump returned to the White House.

The financial vehicle was scheduled to be announced at the upcoming Ukraine Recovery Conference in Rome. It was nearing support from entities backed by the German, Italian, and Polish governments, as noted by the publication on Saturday, which cited unnamed insiders.

Despite these developments, BlackRock is said to have withdrawn from the discussions earlier this year “due to a lack of interest amid increased uncertainty over Ukraine’s future,” a move that followed a shift in the US administration’s position toward Kiev.

President Trump has consistently pledged to bring an end to the Russia-Ukraine war and has explored options to negotiate a peace agreement.

He has also urged NATO member states in Europe to assume greater responsibility for military assistance to Ukraine.

Earlier this week, reports indicated that Washington had halted key weapons shipments to Kiev in order to replenish its own arsenals, although the US president emphasized that some military support is still ongoing.

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