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The Export-Credit Agency was created in Ukraine

On 02.07.2018, on the initiative of the Ministry of Economic Development and Trade, the Cabinet of Ministers approved the decision to establish the Export-Credit Agency (hereinafter - ECA) and its constituent documents. It was decided that it will be created in the form of a private joint-stock company with a registered capital of UAH 200 million, which will be provided by the state budget.
How does the Export Credit Agency work for the growth of our exports?
The launch of the Export Credit Agency is very important for protecting Ukrainian exporters from non-payment risks, financial losses and affordable financing.
The Agency will provide insurance, reinsurance and guarantees under contracts that ensure the development of exports. It will also participate in programs to partially compensate for the interest rate on export credits and provide advice to exporters.
Most states provide similar services to their exporters, but so far in Ukraine there was no such practice. As a result, Ukrainian exporters did not have equal opportunities with their foreign competitors, but due to the decision of the Government, the situation will be changed. This will facilitate Ukraine's transition from raw material exports to exports of value added goods and services.
For more information about ESA look in the presentation: http://bit.ly/2BLpooF.

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