Ukraine needs investors to rebuild its war-torn economy. A huge effort is already underway
Ukraine needs investors to rebuild its war-torn economy. A huge effort is already underway | CNN Business
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Privatization never bodes well for workers. Hopefully they don't erode the rights of workers or unions in the process.
They already did. The war sped up a process Zelensky's party already started beforehand.
I knew they worked with the IMF, World Bank, and corporations to have policy discussions on things like this, but it's incredibly disappointing to see it already happening.
Blackrock and Vanguard are going to own Ukraine
Every allied country in the world need to "repatriate" (I believe that's the wording being used by Russia) any Russian owned assets, sell them, and give some of the proceeds to Ukraine. That will more than pay for reconstruction.
This is the best summary I could come up with:
The World Bank estimated in March that the cost of rebuilding the country one year on from the start of the war amounted to $411 billion — a huge figure that is set to increase as the conflict drags on.
Private investors see a “tremendous opportunity” to invest in Ukraine’s post-war future, according to Stefan Weiler, JPMorgan’s head of debt capital markets for central and eastern Europe, the Middle East and Africa.
It’s an opportunity to “socialize” the idea of the fund and its mission, which is to “attract as much private sector capital into the reconstruction of Ukraine as possible,” said Brandon Hall, co-head of BlackRock’s Financial Markets Advisory arm.
UK Prime Minister Rishi Sunak also unveiled a “war-risk insurance” framework, backed by Group of Seven countries, which will help limit potential losses faced by private investors in Ukraine.
“This is a huge step forward towards helping insurers to underwrite investments into Ukraine, removing one of the biggest barriers and giving investors the confidence they need to act,” Sunak said in a speech at the conference.
The facility would be financed with grants from the EU budget, loans raised on capital markets and proceeds from frozen Russian assets, European Commission President Ursula von der Leyen said Wednesday.
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