• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Mining tycoon Andrew Forrest launches $25bn fund for reconstruction of Ukraine

3 years ago
in Features, highlights, Home, home-news, latest News
2 min read
0 0
0
70
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Mining tycoon Andrew Forrest launches $25bn fund for reconstruction of Ukraine

Australian mining billionaire Andrew Forrest has launched a fund that is hoped to be worth at least $25bn (£21bn) to help rebuild war-torn Ukraine.

Mr Forrest and his wife have committed $500m to the fund, which its organisers say could eventually grow to $100bn.

The Ukraine Green Growth Initiative plans to invest in primary infrastructure such as energy and telecoms networks.

President Zelensky welcomed the move.

“We will take advantage of the fact that what the Russians have destroyed can readily be replaced with the latest, most modern green and digital infrastructure,” Mr Zelensky said.

The fund said it had been working with Larry Fink, the chairman of investment giant BlackRock, and hopes to gain the support of sovereign wealth funds and other professional investors.

Since starting work on the fund in early March, Mr Forrest said he had discussed the plan with a number of world leaders including US President Joe Biden, then-UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen.

“The president [Zelensky] sees that as an opportunity to completely replace old coal-fired [and] nuclear power stations with brand new green energy,” Mr Forrest told the BBC.

“That capital would be available the instant that the Russian forces have been removed from the homelands of Ukraine,” he added.

Mr Forrest made his fortune from Australia’s mining boom. He is the founder and executive chairman of iron ore giant Fortescue Metals.

In recent years he has turned his attention to sustainable technology, with initiatives to decarbonise his mining operations and become a major producer of green hydrogen.

Rebuilding Ukraine

The Russian invasion of Ukraine has seen large parts of the country’s infrastructure destroyed or damaged.

Recent Russian missile attacks have targeted Ukraine’s energy network including its electricity generation plants.

In July Ukrainian Prime Minister Denys Shmyhal said it would cost $750bn for the country to recover from the war, which had caused $100bn of direct damage to infrastructure.

This week Russia angrily rejected international calls for it to pay for war damage it has inflicted in Ukraine.

It came after the UN General Assembly passed a resolution saying Russia should face the consequences of its actions, including paying reparations.

General Assembly resolutions carry symbolic weight but do not have the power to enforce compliance.

The Kremlin said it would work to stop the West seizing its international reserves to pay for reparations.

Tags: Andrew ForrestMining tycoon Andrew Forrest launches $25bn fund for reconstruction of UkraineRussiaUkraine
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.