ECA supported Ukrainian exports by UAH 627 million in the first quarter

In the first quarter of 2024, the Export Credit Agency (ECA) supported Ukrainian exports by UAH 627 million, said Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.

During the period, domestic exporters in cooperation with the agency attracted UAH 99.8 million in financing from partner banks.

Most often, the exporters’ support program with the participation of ECA and partner banks was used by entrepreneurs from Vinnytsia region – the volume of future export revenues in the region amounted to UAH 243.2 million, as well as Kyiv (UAH 235.3 million) and Kharkiv region (UAH 33.7 million).

According to Taras Kachka, support and development of processing enterprises that export their products to other countries is one of the priorities of the Made in Ukraine state policy.

In February 2024, ECA insured loans worth UAH 13 million and supported UAH 276.4 million of Ukrainian exports. One hryvnia of the agency’s insurance liability accounted for UAH 24.5 of future revenue.

In 2023, the Export Credit 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 in exports of goods and services.

As GMK Center reported earlier, last November, the Verkhovna Rada approved a 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).