Export Credit Agency of Ukraine Increases Insurance Capital

by Meifan Honcharuk
Sunday, October 2, 2023
Export Credit Agency of Ukraine Increases Insurance Capital

ECA chairman proposes an increase in the authorised capital to insure export contracts and investments against military-political risks

In February 2023, the Ukrainian parliament considered a draft law on investment insurance in Ukraine. The project deals with military-political risks, which are currently one of the most important topics for the investment climate of Ukraine. In May 2023, the project was adopted. Now, the state institution wants to strengthen investor insurance due to the ongoing Russian aggression and the need to involve foreign projects in the reconstruction and development of Ukraine. The head of the Export Credit Agency, Ruslan Gashev, proposes to increase the capital for insurance by $130 million: from $62 million to $183 million for the insurance of export contracts and investments from military-political risks. Now, insurance from the institution costs 0.6% of the insured amount, including VAT.

The chairman notes that the insurance amount is subsequently planned to be raised to $262 million.

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