Creditwest Bank (Kyiv) and the Export Credit Agency (ECA) have signed a cooperation agreement to stimulate the export of Ukrainian-made goods, the bank’s press service said on Wednesday.
According to the report, the agreement provides for Creditwest Bank’s participation in ECA’s Export Risks Insurance program, within which the agency undertakes insurance of risks under export contracts financed by the bank.
Through the appropriate program Ukrainian companies will be able to attract loans for the implementation of export contracts.
The bank said that the largest loan amount under the program is UAH 2.5 million. The loan term is up to one year. The amount of insurance compensation is set at 85% of the loan amount.
According to the report, the corresponding agreement provides for the use of accelerated procedures for considering applications from the bank by the Export Credit Agency.
The approximate ECA insurance rate will be 1.2% of the loan amount for loans for a period of up to six months, 1.6% – for a period of six to 12 months, depending on the coefficient of the buying country on the OECD scale.
CREDITWEST BANK, EXPORT, EXPORT CREDIT AGENCY, STIMULATE, UKRAINIAN GOODS
