Ukrainian economy

The amount of funding provided for the insurance of the agency amounted to UAH 46 million

In April 2024, the Export Credit Agency (ECA) insured loans in the amount of UAH 46 million and supported UAH 1.07 billion of Ukrainian exports. This is stated in the agency’s report.

Last month, Ukrgasbank (the amount of loan agreements amounted to UAH 27 million, the volume of supported exports was UAH 1.02 billion) and Oschadbank (UAH 19 million and UAH 45.7 million, respectively) insured their export clients with the ECA.

These companies, located in Lviv, Dnipropetrovs’k and Chernivtsi regions, as well as in Kyiv, export their products to Slovakia (for UAH 504.2 million), Estonia (UAH 252.1 million), Poland (UAH 252.1 million), Romania (UAH 45.69 million), France (UAH 4.65 million) and the Benelux (UAH 12.7 million).

Since the beginning of this year, exporters insured by ECA have generated UAH 1.7 billion in export revenues, and one hryvnia of the agency’s insurance liability has turned into UAH 12.4 of supported exports.

In the first quarter of 2024, the Export Credit Agency supported Ukrainian exports by UAH 627 million. In January-March, domestic exporters, in cooperation with the agency, attracted UAH 99.8 million in financing from partner banks.

In 2023, the ECA 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.

As GMK Center previously reported, last November, the Verkhovna Rada approved the law on investment insurance against war risks. The law came into force on January 1, 2024, and is aimed at expanding the ECA’s ability to insure investments in Ukraine (both foreign and domestic investors).