Austria to Invest 500 Million Euros in Ukrainian Exports

by Roman Cheplyk
Thursday, May 16, 2024
Austria to Invest 500 Million Euros in Ukrainian Exports

The Ministry of Finance of Austria has established a special credit fund in the Austrian Control Bank (OeKB) amounting to 500 million euros to support export operations with Ukraine over the next five years.

Support will be provided through a special "Ukrainian" fund at OeKB, created by the Austrian Ministry of Finance to cover the risks of export operations in a country where war is ongoing. This initiative aims to allocate 500 million euros over the next five years to cover operations in Ukraine. By attracting funds from international financial institutions, the financing volume could potentially increase to 1 billion euros.

Under the existing and proven export promotion procedure, the department already facilitates export operations totaling 3-5 million euros in Ukraine with a payment term of up to three years through the OeKB settlement office.

"Russia has been attacking Ukraine for more than two years, which makes any business with Ukrainian companies very risky for Austrian exporters and investors. Therefore, the Ministry of Finance and the Austrian Control Bank have created conditions to support Austrian exports to Ukraine, which would otherwise be impossible to implement due to the special risk situation," stated the Austrian Ministry of Finance.

As reported by, the seaports of Ukraine have achieved a twofold increase in export figures. Additionally, over the past year, Ukraine exported 22 billion dollars worth of grain.

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