Ukraine's Export Credit Agency supports UAH 719 mln worth of exports in Sept

MOSCOW. Oct 17 (Interfax) - Ukraine's Export Credit Agency (ECA) supported UAH 719 million worth of exports in September 2024, bringing the total amount to UAH 5.7 billion since the beginning of the year.

The largest number of loans for exporters in September were issued and insured by Ukrgasbank with UAH 188 million of funding and UAH 531 million of future export revenues, followed by Oschadbank with UAH 10 million and UAH 121 million, respectively, and PrivatBank with UAH 9.95 million and UAH 62.6 million, respectively, Ukrainian media reported, citing the ECA's website.

The ECA services were most actively used in the Vinnitsa, Ternopol and Poltava regions where the amounts of insured contracts totaled UAH 459.5 million, UAH 121.5 million and UAH 50.8 million, respectively.

The September ECA customers are shipping their products to Poland, Czech Republic, Finland, the United States, Hungary, and Azerbaijan. Vegetable processed products, plastics and plastic products, and furniture made up the bulk of exported goods.

Meanwhile, the ECA insured the first 9-million UAH investment loan against military and political risks in September, thereby supporting an investment totaling UAH 45.72 million.

The Export Credit Agency was established to promote exports of goods (works, services) of Ukrainian origin and support Ukrainian resident exporters through insurance, reinsurance, provision of guarantees under export development contracts. The National Bank of Ukraine has been authorized to regulate ECA's activities since January 7, 2023.