MTB Bank has issued the first export loan worth $1 million for exporting vegetable and creamy blends worth $3 million to Armenia and Kazakhstan under the insurance coverage of the Export Credit Agency (ECA).
According to the information of ECA web-site, the insurance responsibility of the State Export Credit Agency to MTB Bank is $800k.
According to Ruslan Gashev, Acting Chairman of the Agency, after the NBU permitted banks to accept ECA insurance policy as an acceptable coverage, the volume of export credits issued reached UAH 614.4 million, owing to which businesses received funds for export transactions totaling UAH 4.4 billion. ECA’s insurance liability to banks amounts to UAH 520.44 million.
MTB BANK PJSC has been operating in the financial market of Ukraine for 28 years and provides a full range of banking services to retail and corporate customers. 45 branches of the bank operates in 12 regions of Ukraine.
PJSC “Export Credit Agency” was founded in 2018. The only founder and shareholder of ECA is the state represented by the Cabinet of Ministers of Ukraine. The management of corporate rights owned by the state in the share capital of ECA is performed by the Cabinet of Ministers through the authorized management body – the Ministry of Economy of Ukraine.
