JP Morgan bankers spent most of last week meeting with Zelensky and his senior staff where they discussed the creation of a fund seeded with $20 billion to $30 billion in private capital, according…
JP Morgan, the nation’s largest bank, has signed a memorandum of understanding with Ukraine’s president Volodymyr Zelenskyy with the eye on attracting private capital for a new investment fund to rebuild Ukraine’s infrastructure that has been destroyed in its war with Russia, FOX Business has learned.
JP Morgan bankers were on the ground in Kyiv and other cities, dodging bombs, and witnessing firsthand how the war has crippled the country’s economy. After a series of meetings with various ministers, they met directly with Zelensky on Friday night. As a gesture of goodwill on the eve of Sunday’s Super Bowl, the bankers also presented Zelensky with a New England Patriots jersey with the number “91,” to signify the year Ukraine gained independence from the old Soviet Union, these people say.
Privately, J.P. Morgan bankers met with Zelensky for hours last week, providing him with ideas on how to attract private capital. They also recommended that he invite major CEOs, like Apple’s Tim Cook, to the country to discuss economic development and that he meet with GOP lawmakers, such as the new House Speaker Kevin McCarthy, R-Calif. Some Republicans are skeptical about the billions in US aid being sent to the country, these people add.
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