The export credit agency, within the framework of pre-export financing portfolio insurance, has already insured 10 unsecured loans, which were used to fulfill agreements for the supply of Ukrainian goods to international markets for a total of almost 70 million Ukrainian hryvnias. 

In the near future, seven more Ukrainian manufacturers will receive loans under the ECA insurance coverage. The exporters’ applications have already been approved by the credit committee of the program partner bank, so the loan funds will be credited to the entrepreneurs’ accounts in the near future. 

Loans were issued in pursuance of foreign economic agreements with European counterparties from such countries as Germany, Poland, Latvia, France, Austria, Moldova and Estonia. Among the recipients of loans are entrepreneurs exporting paper bags, wooden products, solid fuel boilers, parquet boards, components for furniture as well as roasted sunflower seeds. Credit funds were attracted by business representatives from Ivano-Frankivsk, Rivne, Zaporizhzhia and Odesa oblasts.

“The export of Ukrainian products is an important condition for the macroeconomic stability of our country. However, manufacturers face a number of financial difficulties during the war. This is, in particular, the increase in the cost of logistics and the lack of working capital. The task of the state is to help exporters deliver their products to international markets. We use the capabilities of the Export Credit Agency as an important tool for supporting entrepreneurs. State guarantees for the repayment of loan funds stimulate banks to provide such loans to businesses that receive financial opportunities for establishing international commercial relations and selling their products abroad,” said Taras Kachka, Deputy Minister of Economy & Trade Representative of Ukraine.

Let us remind you that the Government has transformed the Export Credit Agency to ensure support for exporters under martial law. ECA insures loans granted by Ukrainian banks in pursuance of an export contract. Currently, the simplified loan terms provided by the “Affordable Loans 5-7-9%” program are in effect. Entrepreneurs can attract up to UAH 20 million in loan funds. In the event that exporters fail to fulfill their credit obligations, ECA compensates the bank for up to 85% of the loan amount.