Kushner Seeks Aid for Ukraine’s Reconstruction
Jared Kushner, serving as President Donald Trump’s special envoy to Ukraine, has reached out to major investment firms including Apollo Global Management and KKR for assistance in rebuilding Ukraine post-war, according to recent information.
Kushner, who is Trump’s son-in-law and not an official member of the administration, was in New York City to explore these opportunities with top asset managers based in the upscale Hudson Yards area.
The discussions, described as preliminary and possibly not leading to any firm agreements, coincided with a phone call Kushner had with BlackRock CEO Larry Fink and other key individuals, including Ukrainian President Volodymyr Zelenskiy.
The identities of the participants were made public later in a statement from Ukraine’s presidency.
BlackRock, KKR, and others approached for comments did not respond to requests.
A spokesperson for Apollo declined to comment as well.
In July, Fink had paused BlackRock’s significant fund dedicated to Ukraine’s development due to uncertainties surrounding President Trump’s approach to the war, but he plans to revive it, aiming to raise around $400 billion with backing from the World Bank.
One official involved indicated that while profits may be unlikely, the effort is seen as a necessary public service, but it raises worries that Ukraine’s European allies may miss out on valuable contracts.
Earlier this September, the U.S. administration pledged $75 million in equity through the U.S. International Development Finance Corporation to encourage investments in Ukraine’s critical infrastructure and resources, which will be matched by Kiev.
Ukrainian officials are scheduled for extensive discussions over the weekend regarding a U.S.-backed peace initiative, also looking at how to revamp a nation battered by years of conflict.
Despite not holding an official title, Kushner is viewed as a significant figure in the ongoing peace efforts between Ukraine and Russia. He recently participated in a lengthy meeting with Russian President Vladimir Putin and met with Ukrainian representatives in Florida.
Alongside his role in negotiations for a cease-fire in Gaza, Kushner has been integral in proposing strategies for reconstruction efforts in various regions, including Gaza.
A crucial aspect of Ukraine’s rebuilding strategy includes an investment fund focused on sectors like rare metals, with significant involvement from Prime Minister Yulia Sviridenko. Kiev has submitted its revision of the 20-point reconstruction plan to the White House.
This plan features components such as creating a demilitarized zone, establishing security under NATO’s Article 5, and aiming for EU membership by 2027. While barriers to NATO membership were lifted, the document leaves open whether Ukraine will join the alliance, a critical concern for Russia.
