KIEV, July 13 – Ex-Kiev Mayor Leonid Chernovetsky has announced the creation of the Chernovetsky International Investment Fund.

As the mayor's press service reported, the fund will be officially registered within one or two months. It will start working on the territory of Ukraine and soon – and then in former Soviet republics and several developing Asian counties.

According to the report, the fund will use money from the sale of Pravex Bank (Kiev, $750 million) and also investments made by other investors in specific projects.