**BlackRock Halts Ukraine Recovery Fund, France Steps In**
The ongoing conflict in Ukraine has taken a hit with the suspension of a multibillion-dollar recovery fund led by US investment firm BlackRock. According to Bloomberg, the decision was made following President Donald Trump’s election victory, which raised uncertainty among investors.
Initially, the plan had secured the support of institutions backed by the governments of Germany, Italy, and Poland. However, due to lack of interest from institutional investors, the planned funding of $500 million from governments, development grants, and investment banks, as well as another $2 billion from private investors, fell through.
The fund was designed to help Ukraine rebuild its infrastructure, which has been severely damaged by Russia’s war. Kyiv had sought to secure investment in the country’s reconstruction efforts. However, BlackRock halted its search for institutional investors in January, citing a lack of interest amid perceived uncertainty in Ukraine.
**France Steps In**
In response to BlackRock’s decision, France is now working on a proposal to replace the recovery fund. While it remains uncertain how effective this plan will be without Washington’s backing, the move suggests that other countries are willing to step in and support Ukraine’s reconstruction efforts.
The Ukraine Recovery Conference, scheduled for July 10-11 in Rome, will see President Volodymyr Zelensky and Italian Prime Minister Giorgia Meloni attend. The conference aims to bring together international leaders and investors to discuss ways to support Ukraine’s recovery.
**Challenges Ahead**
Despite a partial rebound from the economic slump in 2022, foreign investment in Ukraine remains underwhelming. The country still faces significant challenges in rebuilding its infrastructure and attracting investment. The suspension of the BlackRock-led fund is a setback for these efforts, but it also highlights the importance of international cooperation in supporting Ukraine’s recovery.
As the world watches, France’s proposal to replace the recovery fund will be closely monitored. Will it succeed where others have failed? Only time will tell.
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