BlackRock and JPMorgan to Launch $15 Billion Fund for Ukraine's Recovery

A $15 billion fund is in the works to aid in Ukraine's recovery, with support from government entities and capital markets. BlackRock and JPMorgan are teaming up to make this happen, aiming to attract at least $500 million from countries, development banks, and other grant providers, along with $2 billion from private investors. This collaboration could bring together a consortium of shareholders and debt investors to finance a minimum of $15 billion for reconstruction efforts in Ukraine. The fund, led by BlackRock and JPMorgan, is set to be registered in Luxembourg, with an investment committee, analysts, and researchers on board. The goal is to create one of the largest public-private partnership projects in history, similar to Germany's KfW post-World War II or the Climate Finance Partnership between BlackRock and several governments in 2021. Key sectors for the fund will include agriculture, manufacturing, infrastructure, and energy. About 20 viable projects out of 200 have been identified so far, with a project preparation center to be established to source investment ideas and attract investor support. The expenses will be covered by investment returns, according to the fund's leaders.