ECA supported UAH 7.53 billion of exports in 2024

The agency's objectives for the current year include expanding the scope of insurance of foreign trade contracts

In 2024, the Export Credit Agency (ECA) supported UAH 7.53 billion of exports, and one hryvnia of its responsibility brought UAH 7.52 of future export revenue. This is stated in the agency’s report.

Last year, the ECA supported 69 exporters by insuring their foreign trade agreements (foreign economic agreements), loans for the implementation of such agreements and investment loans. The volume of export financing issued by banks under the agency’s insurance amounted to UAH 1 billion.

The agency’s clients operate in 19 regions of Ukraine and the capital, supplying their goods and services to 35 countries. Last year, Kyiv (UAH 3.8 billion in export revenues), Lviv region (UAH 1.25 billion), and Vinnytsia region (UAH 703 million) were the leaders in terms of exports.

At the same time, UGB Ukrgasbank was the leader in terms of export financing provided to entrepreneurs in 2024, with UAH 374.67 million (UAH 2.9 billion of supported exports). Oschadbank was in second place (UAH 208 million in financing, UAH 629 million in exports), and FUIB was in third place (UAH 131 million in loans and UAH 1.78 billion in exports).

“During the year, the agency not only introduced new products to protect investors who invest in export-oriented enterprises or export infrastructure from war risks, but also concluded the first deals, supporting UAH 137.6 million of investments,” the ECA said in a statement.

In addition, for the first time, the ECA insured a bank guarantee for the performance of work by a Ukrainian contractor in Poland.

In 2024, the agency became a full member of the Berne Union, an international organization that brings together export credit agencies and promotes international trade.

In cooperation with the World Bank, ECA developed a draft five-year strategy for the company and adopted it, which was one of Ukraine’s commitments to the IMF. The task was completed five months ahead of schedule. In addition, the agency was the first among state-owned companies to approve its strategy by a decision of the Supervisory Board in accordance with updated corporate governance standards.

The main objectives of the ECA for 2025 include

• expanding the scope of insurance of foreign trade contracts;
• increasing the volume of investment finance insurance,
• launching a loan insurance compensation program aimed at supporting small and medium-sized businesses
• increasing the agency’s capitalization.

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

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