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28/09/2016

Soros ‘ready to invest’ in Ukraine

Europe's East

Soros ‘ready to invest’ in Ukraine

George Soros is ready to invest $1 billion in Ukraine if Western countries help private investment there, and sees a 1 in 3 chance of Greece leaving the euro, the billionaire told Austria’s Der Standard.

Soros has previously urged the West to increase aid to Ukraine, outlining steps towards a $50 billion financing package that he said should be viewed as a bulwark against an increasingly aggressive Russia.

“The West can help Ukraine by increasing attractiveness for investors. A political risk insurance is necessary. This could take the form of mezzanine financing at EU interest rates – very close to zero,” he said in an interview published on Monday.

“I stand ready. There are concrete investment ideas, for example in agriculture and infrastructure projects. I would put in $1 billion. This must generate a profit. My foundation would benefit from this … Private engagement needs strong political leadership.”

The Hungarian-born hedge fund magnate, who made his name betting against the pound in 1992, also put the chance of Greece leaving the eurozone at a third. Last week he put it at 50:50.

Soros spokesman Michael Vachon said on Monday, “Soros said he would consider investments in Ukraine if Western leaders demonstrated that they were prepared to ‘do whatever it takes’ to save Ukraine, including providing adequate budgetary support and political risk insurance.

“Under those conditions, Soros said he would review investments in the energy, agriculture and information technology sectors.”

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