One of the largest investment firms in the world, BlackRock Inc., has decided to stop its search for funding for the Ukraine recovery project at the beginning of 2025 following Donald Trump's victory in the U.S. presidential elections.

This was reported by Bloomberg.

In January 2025, after Trump’s election, BlackRock announced it was suspending negotiations with investors regarding the Ukraine recovery fund due to a lack of interest amid increasing uncertainty about Ukraine's future.

According to the publication, in December 2024, the U.S. government was noticeably absent from the list of sponsors for the fund.

The Ukraine recovery fund was on track to attract at least $500 million from countries, development banks, and other grant providers, as well as $2 billion from private investors.

Ultimately, the fund aimed to raise at least $15 billion for Ukraine's recovery.

It was set to be introduced at the Ukraine recovery conference in Rome next week (July 7-11). The fund was to receive support from the governments of Germany, Italy, and Poland, as reported by Bloomberg, citing sources.

A BlackRock representative stated that the company completed its pro bono advisory work regarding the Ukraine Development Fund in 2024 and is currently not involved in any active mandates with the Ukrainian government.

The publication also added that France is working on a proposal for a fund that would replace the canceled BlackRock initiative.