Bankers from JP Morgan Chase visited Ukraine last week and signed a memorandum of understanding with President Volodymyr Zelensky and plan to help raise private capital for a new fund for Ukraine’s reconstruction.
According to Fox Business, JP Morgan, America’s largest bank, discussed with Zelensky the creation of a fund that would start with $20 – $30 billion in private capital to go towards investment in Ukraine. Another idea would be to establish a new bank administered by Wall Street firms that would invest in Ukrainian infrastructure that has been destroyed in the war.
Zelensky’s office said that the Ukrainian leader met with senior members of JP Morgan on Friday. “I understand very well that doing business and investing cannot be beneficial to only one party. We want you to invest in Ukraine and earn money,” Zelensky said.
Besides helping raise private investment for Ukraine, JP Morgan will advise on financial stabilization, sovereign credit ratings, and economic ties to Europe. The bank’s CEO, Jamie Dimon, said the “full resources” of JP Morgan are available to Ukraine as it “charts its post-conflict path to growth.”
Ukraine’s reconstruction will have a huge price tag, with the World Bank estimating in December that it could cost between 500 and 600 billion euros ($525 billion-$630 billion). Last July, Ukrainian officials estimated the “recovery plan” will cost about $750 billion. As the war goes on and more of Ukraine is destroyed, the price tag will increase.
Zelensky has also agreed to coordinate Ukraine’s reconstruction with the investment management company BlackRock after meeting with the company’s CEO, Larry Fink. Last month, Zelensky said American corporations would find “big business” in Ukraine.
“It is already clear that this will be the largest economic project of our time in Europe,” Zelensky said in a video address to a meeting of the National Association of State Chambers “We have already managed to attract attention and have cooperation with such giants of the international financial and investment world as BlackRock, JP Morgan and Goldman Sachs.”
Zelensky cited US military aid as an example of the business opportunities found in Ukraine. “And everyone can become a big business by working with Ukraine. In all sectors — from weapons and defense to construction, from communications to agriculture, from transport to IT, from banks to medicine,” he said.
21 thoughts on “Zelensky Signs Agreement With JP Morgan on Ukraine’s Reconstruction”
JP Morgan were happy to provide high end banking services to Jeffrey Epstein for many years, even after he pleaded guilty in 2008 to two counts of soliciting prostitution from a teenage girl. Tells you something of the moral bankruptcy of that institute. Zelensky and his corrupt cabal will be a perfect fit for them.
The ghost of Jekyll Island is still kicking.
Banks and Bank loans were the cause of WWI and they will be the cause of WWIII.
The vultures descend for the feast, with Zelensky their maitre d’.
What is the interest rate?
W/o the east and the south, there’s not much to Ukraine than wheat and sunflowers, which really don’t need much capital to get going …
There’s a lot of money to be made in agriculture.
Sure, but russia isn’t blowing up the ag fields. So the recovery $ needed will be minimal.
I wonder what Zelensky is putting up as collateral? Or perhaps I should ask, what is not being offered? I mean, Ukraine’s credit rating now is not much better than a homeless panhandler’s.
I dunno, V, the keys are a bit sticky…
The CEO of Blackrock has been there talking up things with Z. The American Conservative: https://www.theamericanconservative.com/blackrock-plots-to-buy-ukraine/ NY Times: https://www.nytimes.com/2022/09/19/business/zelensky-blackrock-reconstruction-fund.html
I assume most of these reconstruction dollars will never reach the Ukraine and will be spent in the United States.
The reconstruction dollars will be coming from the American taxpayers. The Banks and Corporations will keep the Ukrainian natural resources for themselves.
“Ukraine’s reconstruction will have a huge price tag, with the World Bank estimating in December that it could cost between 500 and 600 billion euros ($525 billion-$630 billion). Last July, Ukrainian officials estimated the “recovery plan” will cost about $750 billion. As the war goes on and more of Ukraine is destroyed, the price tag will increase.”
So, I assume the “full resources” promised by JP Morgan is based on the war ending in a reasonably short period of time. Maybe they’re privy to insider info and peace is just around the corner. Otherwise, I’d say those “full resources” won’t be on the table forever.
This is bad. This pretty much guarantees heavy open US involvement in the war over the next several years. US businesses that run our nation have a substantial interest in achieving various battlefield conditions, as spelled out in details not available to the public.
Yes. US Empire Corporate tyranny. The Corporations have all the say.
That’s because they bankroll our politicians.
Also in today’s news:
Zelensky has negotiated a deal with Disney to make a film about his heroic life;
Additionally, Fisher-Price has announced the production of a Zelensky action figure, the profits of which will contribute to weapons manufacturing.
Quote.. Zelensky Signs Agreement With JP Morgan on Ukraine’s Reconstruction..
& to pay for all that, no problem, they will take the 50 Trillion US$ that V Putin has in the Swiss bank account to pay for it ….
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