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Australian businessman to invest $500 million in Ukraine Development Fund

by The Kyiv Independent news desk June 21, 2023 11:34 PM 1 min read
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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.
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