EBRD to consider possibility of joint investment with Ukraine Development Fund in future

MOSCOW. March 26 (Interfax) - For now, the European Bank for Reconstruction and Development (EBRD) is not planning to invest in the Ukraine Development Fund (UDF) the Ukrainian government is setting up together with BlackRock and JP Morgan, but will eventually consider the possibility of joint investment.

"Currently, the EBRD is not planning to invest in the [Ukraine Development] Fund, yet we will consider the possibility of joint investment with the UDF in the future on the individual basis," an EBRD representative said in comment to Ukrainian media.

Deputy chief of the Ukrainian Presidential Office Rostislav Shurma said earlier that it was planned to launch the UDF in the first half of this year, probably, before or by the Ukraine Recovery Conference 2024 due in Berlin on June 11-12.

Media said it was planned to register the UDF in Luxembourg. The Fund plans to attract at least $500 million from nations, development banks and other grant providers, in addition to $2 billion from private investors at the initial stage.