ECA presents possibilities of portfolio insurance of export loans for entrepreneurs of five regions of Ukraine

KYIV. Sept 16 (Interfax-Ukraine) – The Export Credit Agency of Ukraine (ECA), together with the USAID Competitive Economy Program (USAID CEP) in Ukraine, in the first half of September provided opportunities for portfolio insurance of export loans to entrepreneurs in Dnipropetrovsk, Volyn, Zakarpattia, Khmelnytsky and Cherkasy regions.

According to the ECA, representatives of small and medium-sized export-oriented businesses in these regions, as well as enterprises that have been relocated to these areas, together with bank employees that already provide pre-export loans or plan to develop this direction in the future, discussed the role of available financing in business resumption and stimulating the development of export activities in war conditions. In particular, portfolio insurance for pre-export lending, which ECA implements jointly with Oschadbank, Ukrgasbank and Ukreximbank, allows Ukrainian producers to receive a loan without collateral in wartime conditions for the implementation of a foreign economic agreement.

According to the director of the regional development department of the Cherkasy Regional State Administration, Vasyl Stetsenko, whose words are quoted in the report, Ukrainian exporters faced a number of problems during the war – logistics, broken contracts, the search for new markets, delays at the borders. Some exporting enterprises were forced to relocate their enterprises to the territory, where it is relatively safe, and actually start everything from scratch, and some even lost their businesses. Export in a war is quite difficult and needs support, because to maintain economic stability, Ukraine more than ever needs a large-scale expansion of exports of goods, works and services. The special ECA program for lending to exporters during martial law is one of the tools for scaling Ukrainian exports.