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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
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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.

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As Russia bombards Ukraine with Shahed drones almost every night, the 12th Army Aviation Brigade takes to the skies in decades-old helicopters to intercept them. The Kyiv Independent’s Kollen Post joined the pilots to understand how they fly, maneuver, and shoot down drones in darkness — and what keeps them going.

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