ECA supported exports by UAH 4.6 billion in the first half of the year

In the first half of 2024, the Export Credit Agency of Ukraine (ECA) supported exports by UAH 4.6 billion. This is stated in the report of the Ministry of Economy.

According to First Vice Prime Minister and Minister of Economy Yulia Svyrydenko, in January-June 2024, the Export Credit Agency increased export support by almost 2.5 times compared to the same period last year.

«The development of non-resource exports is one of the key areas of the Made in Ukraine economic policy. And ECA instruments help achieve these goals, in particular, banks recognize ECA insurance as sufficient collateral for a loan, which simplifies and reduces the cost of obtaining it. In addition, cooperation with the ECA reduces the risks of the exporter and the bank, reduces the cost of financing and increases opportunities for business development,» Svyrydenko said.

The top three regions in terms of exports supported over six months are as follows:

• Kyiv – UAH 2.78 billion,
• Lviv region – UAH 1.11 billion.
• Vinnytsia region – UAH 234.2 million.

The top five countries to which Ukrainian producers sold their products in January-June (in terms of the amount of concluded and insured contracts) were Poland, the UAE, Azerbaijan, Slovakia, and Germany.

According to ECA, in June this year, the agency supported UAH 1.67 billion of Ukrainian exports. One hryvnia of its insurance liability yielded UAH 55.9 of I

In 2023, the agency insured exporters’ loan agreements worth UAH 1 billion and foreign trade agreements of Ukrainian enterprises worth UAH 64 million, thus supporting a total of UAH 7.84 billion of exports of goods and services.

As GMK Center reported earlier, in May this year, the ECA started accepting applications for investment insurance against military and political risks – the agency will offer two insurance products.