Ukraine's Export Credit Agency supports UAH 4.6 bln worth of exports in Jan-June

MOSCOW. July 16 (Interfax) - Ukraine's Export Credit Agency (ECA) supported exports worth UAH 4.6 billion in the first half of 2024, First Deputy Prime Minister and Economy Minister Yulia Sviridenko said.

"ECA increased the volume of export support in the first half of the year almost 2.5-fold year-on-year," Ukrainian media quoted Sviridenko as saying in a statement released by the Economy Ministry's press service.

The development of non-commodity exports is one of the priority areas of the Made in Ukraine economic policy, and ECA's tools help reach these goals. In particular, the ECA insurance is recognized by banks as a sufficient collateral making process of getting loan easier and cheaper.

Cooperation with ECA lowers risks of exporter and bank, reduces the cost of funding and enhances business development opportunities, Sviridenko said.

According to the ministry, the top three regions in terms of volumes of exports supported over the past six months are as follows Kiev with UAH 2.78 billion, the Lvov region with UAH 1.11 billion, and the Vinnitsa region with UAH 234.2 million.

The top five countries to which Ukraine exported its goods in January-June (in terms of the prices of contracts concluded and insured) were Poland, the United Arab Emirates, Azerbaijan, Slovakia, and Germany.

The most popular export goods were dairy products, timber and wooden products, toys, clothing and vegetable processing products.