Ukraine's Rada approves creation of export-credit agency

(Kyiv Post, Kyiv, 21 December 016) The bill No. 2142a providing for the aggressive exports expansion of Ukrainian manufacturers via insuring, guaranteeing and cheapening of exports crediting was passed at second reading late on Tuesday, Dec. 21, by 237 lawmakers. According to the document, Ukraine’s Cabinet of Ministers creates the export-credit agency to stimulate exports of Ukrainian goods, labor and services. The agency will insure, reinsure exports on a voluntary basis and will secure contracts aimed at developing exports. The agency will participate in the implementation of the program to partially compensate the rates for exports credits.