ECA supported UAH 2.93 billion of exports in 5 months

Экономика Украины

In the first five months of this year, the Export Credit Agency of Ukraine (ECA) supported UAH 2.93 billion of domestic exports. This is stated in the report of the Ministry of Economy.

Thus, one hryvnia of the agency’s insurance liability brought UAH 11.15 of future export revenue.

According to First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko, increasing non-resource exports, in particular through financial instruments to support exporters, is one of the key areas of the Made in Ukraine economic policy. In January-May 2024, export support from the Ukrainian ECA was twice as much as in the same period last year.

In particular, in May, according to the ECA, the agency supported UAH 1.23 billion of exports. Since the beginning of this year, Ukrgasbank has been the leader among partner banks, having provided export loans worth UAH 120.5 million, which secured UAH 1.75 billion in future revenue. In May, MTB Bank provided the largest amount of financing to domestic exporters (UAH 79.2 million). It also supported the largest amount of exports in the period – UAH 911.2 million.

Since the beginning of the year, exporters from Kyiv (UAH 1.15 billion of supported exports), Lviv region (UAH 1.1 billion), and Vinnytsia region (UAH 243 million) have been the most active users of ECA insurance. In May, the top three regions were as follows: Kyiv (UAH 911 million), Ivano-Frankivsk region (UAH 158.4 million), and Lviv region (UAH 65.2 million).

Poland (UAH 660.7 million), Denmark (UAH 197.6 million), and the Netherlands (UAH 158.4 million) were the top countries to which Ukrainian producers most actively sold their products in May.

In 2023, the ECA 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 in exports of goods and services.

In May 2024, ECA started accepting applications for investment insurance against military and political risks – the agency will offer two insurance products.