ECA supported Ukrainian exports by UAH 276.4 mln in February

In February 2024, the Export Credit Agency (ECA) insured loans worth UAH 13 million and supported 276.4 million of Ukrainian exports. This is stated in the agency’s report.

As noted, one hryvnia of the agency’s insurance liability accounted for UAH 24.5 of future revenue.

The loans insured by the ECA were issued to exporters from Vinnytsia, Dnipro and Zaporizhzhia regions (Ukrgasbank – UAH 8 million, Oschadbank – UAH 5 million) to fulfill contracts with customers in Germany and Italy. These Ukrainian companies will supply clothing, furniture, and ferrous metal products abroad.

In total, since the beginning of 2024, according to the Ministry of Economy, the ECA has insured seven loans worth UAH 28 million issued to Ukrainian exporters and one foreign economic activity (FEA) agreement. Thus, the company supported domestic exports by UAH 310 million.

This year, entrepreneurs from six regions of Ukraine, who supply their products to countries such as Germany, Italy, the United States, Moldova and Hungary, used the services of the Export Credit Agency.

In 2023, 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. As of January 1, 2024, the agency cooperates with ten Ukrainian banks that provide financing to exporters under ECA insurance coverage on an individual basis or under a portfolio insurance program.

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).