The Export Credit Agency will offer two insurance products – direct investment insurance for investors and investment loan insurance for banks.
The Export Credit Agency of Ukraine (ECA) has started accepting applications for insurance of investments against military and political risks. This was announced by First Deputy Prime Minister – Minister of Economy Yulia Sviridenko in a column for Forbes on May 29.
It was learned that the export credit agency will offer two insurance products – direct investment insurance for investors and investment loan insurance for banks.
According to Sviridenko, a developed infrastructure for insurance against war risks can be an additional incentive for investors to enter the Ukrainian market.
Previously, insurance against war risks was available only from international organizations – MIGA insured foreign companies willing to invest in Ukraine, the American DFC and the Polish agency KUKE provided guarantee to foreign companies and Ukrainian. And now ECA has joined the organizations ready to insure investments in and in Ukraine. Thanks to this, Ukrainian companies receive additional guarantees of financial security, and the economy receives increased business activity,” explained the Deputy Prime Minister.
It was previously reported that the Financial Stability Board agreed on a concept note for the creation in Ukraine of a fully functional war risk insurance system, as stipulated in the Memorandum of Economic and Financial Policy between Ukraine and the IMF.
The World Bank insured the first investment projects in Ukraine against war risks.
Source: korrespondent
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