'Is Ukraine being privatised': Netizens fume over President Zelensky's meet with BlackRock management

President of Ukraine, Volodymyr Zelensky, recently met with the management team of BlackRock, the world's largest asset management company, to discuss the creation of an investment fund aimed at restoring the country's economy through public and private capital. Netzines have not taken well to the news with many criticising Zelensky over the meeting.

A Twitter user said, “Taxpayers pay the war bills, private firms get the profits.” “Ukraine being privatised and sold off to companies like Blackrock,” another said.

According to the press service of the Office of the President, the parties discussed the details of the investment fund's creation and implementation of large-scale business projects in Ukraine. The main goal of the fund is to attract both private and public capital, and the Ukraine Development Fund signed an agreement with BlackRock Financial Market Advisory on providing support services following the meeting.

Zelensky stated that strategic private capital in the volumes needed for Ukraine's scale and capabilities has not come to the country since its independence. He emphasised the need for transparency and success in implementing the project, adding that Ukraine is attracting the best financial and consulting organizations in the world, including BlackRock, JP Morgan, and McKinsey.

Philipp Michael Hildebrand, Vice Chairman of BlackRock and a member of the firm's Global Executive Committee, acknowledged the historic nature of the moment and the opportunity it presents to bring together the private and public sectors. He emphasised that technical innovation can be a catalyst for further development and expressed his optimism that BlackRock could contribute to the global economy and make use of innovation.

Here are some more reactions from Twitter:

American citizens have already been critical of US President Joe Biden's support of Ukraine amid the Russian invasion.

Last month, the Biden administration announced $325 million in new military aid for Ukraine on Wednesday to help its military in its war against Russia, including additional ammunition for High Mobility Artillery Rocket Systems (HIMARS), advanced missiles and anti-tank mines.

It is the 36th security package for Ukraine since the Russian invasion in February 2022 and brings total US military assistance for the Kyiv government to more than $35.4 billion in that time.