US investors are relaunching a key Ukrainian grain export terminal after wresting control from alleged looters, in a test of Kyiv’s ability to attract capital to rebuild its economy in its fourth year of war.
US-based funds Argentem Creek Partners and Innovatus Capital Partners have taken over the Olimpex terminal in the port of Odesa, after securing victory in a saga of alleged loan fraud that underlines the challenges of reviving international investment in wartime Ukraine.
Sustained Russian attacks on infrastructure and fading hopes for a ceasefire this year are threatening to add to a reconstruction bill that the World Bank has already estimated at more than $500bn, versus Ukraine’s current GDP of around $200bn.
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