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Guarantees introduced by the German government to help attract investments to Ukraine – Oleksandr Hryban

03.02.2023 | 12:31 | Section for Public and Mass Media Relations

The implementation of the Investment Guarantee Program for German companies in Ukraine will contribute to the attraction of investments in our country and the implementation of recovery projects. Deputy Minister of Economy Oleksandr Hryban expressed his conviction in this during a meeting of business representatives where the details of the Program were discussed.

The meeting was held at the initiative of the European Business Association, Global Business for Ukraine (GB4U), the German Chamber of Commerce and Industry (DIHK), the German-Ukrainian Chamber of Commerce and Industry (AHK) and the German-Eastern Business Association (OA).

“Ukraine is interested in attracting investments into our economy already today. We see investors’ interest in our country. In particular, in expanding the cooperation of companies that have been successfully working in Ukraine for a long time. At the same time, the issues of investment risk insurance and obtaining investment guarantees remain one of the key decisions for the investor. That is why we are working hard with our partners, both governments and international financial institutions, to get the appropriate tools. 

I am convinced that the initiative of the German Government and the guarantees of investments in Ukraine offered to German businesses will contribute to the attraction of investments, which is extremely important right now because the current year should be the year when the recovery of Ukraine starts. The program introduced by Germany can serve as an example for the governments of other countries that have not yet introduced the appropriate tools,” said Oleksandr Hryban.

The program of investment guarantees for German companies in Ukraine was initiated by the Federal Ministry for Economic Affairs and Climate Action in order to encourage German businesses to invest in Ukraine. The Federal Government commissioned PwC to implement the Investment Guarantee Program. 

The program covers the following risks: war, expropriation (nationalization), transfer risk and conversion risk, risk of breach of contract. The cost of participation in the program consists of a one-time payment (not available for investments up to EUR 5 million and 0.5% for investments over EUR 5 million) and an annual payment which is determined by the amount of coverage.

Guarantees apply to new projects and investments, but in some cases may cover newly invested funds. The Investment Guarantee Program is aimed at long-term risk mitigation for German investors, prevention or compensation of losses and facilitation of obtaining financing for the implementation of investment projects. 

Close cooperation between PwC and Advantage Ukraine is also planned.

As a reminder, currently the Ukrainian government has reached an agreement with MIGA on the implementation of a pilot project on military risk insurance. Investors can insure up to 90% of risks and be compensated for their potential losses. In the future, it is planned to mobilize up to USD 1 billion for the project. DFC, USA, also announced its readiness to mobilize over USD 1 billion to support Ukraine’s economy. In addition to direct lending, it is also about covering credit and military risks. The latter product is currently available but requires additional refinancing which DFC is already working on.

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