The Increase in the Capital of the “Export-Credit Agency”

Thursday, August 19, 2021
The Increase in the Capital of the “Export-Credit Agency”

The Cabinet of Ministers has decided to increase the authorized capital of the "Export Credit Agency" joint-stock company tenfold from $7,5 mln to $67 mln

The authorized capital of ECA will be increased by issuing additional shares of the existing nominal value, while 100% of the shares will remain in state ownership.

Also, the Ministry of Finance will issue state bonds in the amount of $67 mln for a term of 15 years with an interest rate of up to 9,3% per annum in exchange for the additionally issued shares of ECA

"Ukraine's GDP grew by 5,4% in the second quarter. An important role in the economic recovery was played by the growth of Ukrainian exports, which increased by 31%, or $7 bln. over six months. The increase in the authorized capital of the Export Credit Agency by $67 mln will allow to expand the presence of Ukrainian goods in foreign markets", quotes the prime minister of Ukraine Denys Shmyhal.

The company performs insurance of export loans, foreign trade contracts, direct investments from Ukraine. The agency also participates in programs of partial compensation of interest rates on export loans, provides guarantees for the obligations of Ukrainian exporters during their participation in international tenders and conducts investing-in-ukraine/service-for-investors/business-consultant/" rel="dofollow">consulting activities.

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