Skip to content
Edit post

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
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

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.

News Feed

11:14 PM

Romania denies downing Russian drones over Ukraine.

Videos on social media that purport to show Romanian air defense units shooting down Russian attack drones above Ukraine are spreading a false narrative, Romania's Defense Ministry said in a statement on July 26.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
3:38 PM

Russian ex-deputy defense minister arrested on corruption charges.

In his previous position, former Russian Deputy Defense Minister Dmitry Bulgakov was in charge of the military's logistics chains during the full-scale invasion of Ukraine. His dismissal was widely seen as a response to the logistic failures that accompanied the early months of Russia's all-out war.
11:31 AM

Сeasefire would leave 25% of Ukraine under Russian control, ambassador says.

"Many countries have proposed the idea of a ceasefire, but no one thinks about what it means. Some 25% of Ukrainian territory would remain under Russian control, which means buying time for Russia to strengthen its capabilities and resume its attacks on Ukraine," Ambassador of Ukraine to Turkey Vasyl Bodnar said.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.