Kiev believes implementation of joint ECA, Economy Ministry plans to enable increasing export loan insurance to 600 mln hryvni

MOSCOW. Oct 15 (Interfax) - The implementation of joint plans of the Export Credit Agency (ECA) and the Economy Ministry in Ukraine could increase insurance of export contract loans from 200 million hryvni to 600 million hryvni within one or two years making ECA's products attractive for large businesses, ECA Board Chairman Ruslan Gashev said at the Made in Ukraine forum.

The popularity of insurance of foreign economic activity contracts is rising, just like the total amount of export supported by the ECA, according to preliminary estimates, it could reach 10 billion hryvni this year, Gashev said, as quoted by Ukrainian media with a reference to the ECA's website.

One of the most sought products for export supported by the ECA is electric equipment, machines and their component parts, the amount of export supported by the agency reached 2.6 billion hryvni since June 2022, he said.

Gashev said he hopes that the ECA's new products such as insurance of investment credits from military risks will enable the agency to find solutions for the clients who were previously unable to use its services, increase the number of businesses receiving its support to 120-150 annually and gradually develop the insurance awareness.