Ukrainian Export Credit Agency to receive state guarantees - PM

MOSCOW. April 25 (Interfax) - The Ukrainian government has provided state guarantees to the Export Credit Agency, Prime Minister Denis Shmygal said.

"We are stepping up the work of the Export Credit Agency. We want as many Ukrainian businesses as possible to export their products abroad. Moreover, we see that there is a request from businesses, but many enterprises lack resources and need state support," Ukrainian media quoted Shmygal as saying at a government meeting on Tuesday.

In this regard, the government endorsed a resolution, which should bolster the Export Credit Agency, he said.

"The agency will now receive state guarantees in order to more actively support Ukrainian exporters. This will increase the competitiveness of Ukrainian goods and services and contribute to a more rapid recovery of our economy," Shmygal added.

The procedure for providing state guarantees to secure debt obligations of the Export Credit Agency private joint stock company, namely the provision of state guarantees for the company's debt obligations (the obligations of a borrower to a lender on a credit (loan) arising from the placement (issue) of debt securities or entering into loan agreements) was approved, representative of the government in the Verkhovna Rada Taras Melnichuk said on social media.