Ukranian ECA supports US$5.6 million in exports

(CableFree TV, London, 25 August 2022) Under a special program for loans to exporters, banks have provided 14 loans for an amount of 33.2 million UAH.(US$895,000) supported by the Export Credit Agency of Ukraine. Another 12 agreements worth US$1.47 M are awaiting signature. The ECA’s partner banks have supported the issuance of an additional 8 loans under simplified collateral requirements under a special exporter loan program under martial law. It is noted that entrepreneurs from the regions of Ivano-Frankivsk, Rivne, Kiev, Odessa, Dnepropetrovsk, Zaporozhye and Chernivtsi have received loans. They export paper bags, wooden products, solid fuel boilers, parquet boards, furniture parts, furniture, rubber products and foodstuffs. According to the ECA, the export contracts received for the implementation of: loansthe total amount of supported exports will exceed US$5,5 M. As reported, in March the Verkhovna Rada generally passed a law to ensure a large-scale expansion of the export of goods (works, services) of Ukrainian origin through insurance, guarantees and cheaper loans. The document provides for ensuring the effective functioning of the export credit institution.