Export credit agency supports UAH4.9 bln of Ukrainian exports over past year

MOSCOW. July 11 (Interfax) - Ukraine's Export Credit Agency (ECA) has supported exports worth UAH4.9 billion over the period of the exporters' support program since June 2022, which is being implemented with partner banks.

As Ukrainian media reported, citing the ECA website, 88 transactions totaling UAH711.33 million were insured over this period, of which UAH353 million were portfolio loans.

"One hryvna of ECA's insurance liability is converted into UAH8.11 of export revenue over the past 12 months," the statement said.

The statement noted that seven banks are currently insuring in the ECA portfolio loans under simplified collateral requirements, and several more are cooperating as part of individual solutions.

The largest volume of loans over this period was issued by Oschadbank (UAH230.37 million), Raiffeisen Bank (UAH210 million) and Ukrgasbank (UAH189 million).

In annual terms, the Ukrainian-controlled part of the Zaporozhye region remains the leader in terms of supported exports with UAH2.4 billion, followed by Kiev (UAH734.9 million) and the Rovno region (UAH288.98 million). In terms of the amount of loan agreements, Kiev (UAH239.75 million) is leading, followed by the Ukrainian-controlled part of the Zaporozhye region (UAH123.5 million), and then the Rovno region (UAH80.9 million).

The most popular sales outlets are Austria, Poland and Germany. The products most in demand among exporters belong to groups 85 (electrical machinery, equipment), 21 (miscellaneous food products) and 44 (timber and wooden products).

At the same time, over H1 2023, the volume of supported exports totals UAH1.72 billion, and one hryvna of ECA liability yields UAH9.79.

Export Credit Agency PJSC is a government-authorized agency that supports and promotes exports of Ukrainian goods (works, services). ECA protects Ukrainian exporters from the risk of non-payment and financial losses associated with the fulfillment of foreign trade contracts.