News Feed

Australian businessman to invest $500 million in Ukraine Development Fund

1 min read

Andrew Forrest, the second-richest Australian, announced on June 21 that he would be seeding the Ukraine Development Fund with $500 million and called on other investors to follow suit.

Forrest was speaking at the Ukraine Recovery Conference in London.

Ukraine is a "superb long-term investment", Forrest noted, emphasizing that the idea of the fund is to serve as a hair-trigger than can mobilize a Marshall Plan-style stimulus for Ukraine's economy.

The fund is currently being set up, with asset management giant BlackRock as an advisor, and is expected to launch within 6 to 9 months, according to Ukraine's Deputy Economy Minister Oleksandr Hryban.

Ukraine Recovery Conference begins in London
The 2023 Ukraine Recovery Conference (URC), an event aimed at mobilizing international support for Ukraine’s economic stabilization and war recovery, started in London on June 21.
Article image
Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed

In a joint statement, representatives of five Security Council members — Denmark, France, Greece, the United Kingdom and Slovenia — along with incoming member Latvia, denounced Russia's invasion of Georgia 17 years ago and its continued military presence in the country's Abkhazia and South Ossetia regions.

Video

The Kyiv Independent spent a day with the 20th Separate UAV Regiment, also known as K-2, which specializes in ground robots, in northern Donetsk Oblast. We also spoke with the regiment's commander, Kyrylo Veres, about how these machines could shape the next phase of warfare in Ukraine, helping to reduce the risk to soldiers amid a growing manpower shortage.

Show More