The reconstruction will focus on renewable energy, with an “opportunity to completely replace old coal-fired [and] nuclear power stations,” Forrest said.
Australian mining billionaire Andrew Forrest has launched a fund with a goal of $25 billion to help rebuild Ukraine. Per BBC, Forrest and his wife, Nicola, have already committed $500 million.
Due to ongoing attacks by Russia, The Ukraine Green Growth Initiative aims to rebuild essential infrastructures, such as energy and telecommunications. The reconstruction will focus on renewable energy, with an “opportunity to completely replace old coal-fired [and] nuclear power stations,” Forrest told the publication.
“Andrew and I have agreed we will not replace communist-era rubbish Russian infrastructure; instead, we will leapfrog to the latest technology,” Ukraine President Volodymyr Zelensky said, welcoming the fund in a statement.
“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.”
According to fund organizers, despite the $25 billion goal, it may reach $100 billion. “I invite professional investors, fund managers, and sovereign funds and all who believe invading another country should now be forever consigned to the historical garbage bin of humanity’s worst mistakes to join us,” Forrest said in a statement.