The Export Credit Agency (ECA) supported UAH 1.31 billion of Ukrainian exports in January 2025, which is twice as much as in the entire first quarter of 2024, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko said.
“One of the key areas of the ‘Made in Ukraine’ policy is to support and develop non-resource exports. Thanks to cooperation with the ECA, Ukrainian exporters reduce their risks and get the opportunity to get cheaper loans, and thus increase sales abroad.
It is important that such cooperation is expanding, and each hryvnia of insurance liability is converted into almost UAH 14 of future export revenue,” the press service of the Ministry of Economy quoted her as saying.
The ministry noted that in the first month of 2025, export credits in the ECA were insured by Creditwestbank, FUIB, and Oschadbank. Entrepreneurs from Khmelnytskyi and Zaporizhzhia regions and the city of Kyiv used this opportunity most often.
These companies produce furniture, ready-made grain and flour products, alcoholic and non-alcoholic beverages, and dairy products. Their products are exported to 17 countries, including Bulgaria, Denmark, Germany, Hungary, the United Arab Emirates, and Romania, the Ministry of Economy added.
As reported, in 2024, the ECA supported UAH 7.53 billion of Ukrainian exports. The tools of the Export Credit Agency of Ukraine are one of the elements of the “Made in Ukraine” policy. Its goal is to support non-resource exports, develop production and attract investment in the real sector.
In 2024, the Export Credit Agency (ECA) supported 69 exporters by insuring their foreign trade agreements, loans for the execution of such agreements, and investment loans for UAH 1 billion, according to the agency’s website.
Thus, the supported exports amounted to UAH 7.53 billion, and one hryvnia of ECA’s liability brought UAH 7.52 of future export revenue.
ECA’s clients operate in 19 regions of Ukraine, among which the leaders in terms of exports were: Kyiv (UAH 3.8 billion of export revenue), Lviv region (UAH 1.25 billion) and Vinnytsia region (UAH 703 million).
Nine banks are helping exporters, together with the ECA, to safely expand their business geography. Ukrgasbank financed UGB the most – UAH 374.67 million (UAH 2.9 billion of supported exports), Oschadbank – UAH 208 million (UAH 629 million), and FUIB – UAH 131 million of loans (UAH 1.78 billion of supported exports).
The ECA also reports that during the year it introduced new products to protect investors from military risks and concluded the first such agreements, supporting UAH 137.6 million of investments.
The ECA also insured a bank guarantee for the performance of work by a Ukrainian contractor in Poland for the first time.
In 2024, ECA became a full member of the Berne Union, an international organization that brings together export credit agencies and promotes international trade.
“This opens up new opportunities for cooperation with international partners and raising our export risk insurance standards and improving insurance products,” the agency explained.
In cooperation with the World Bank, ECA developed a draft five-year strategy for the company and adopted it, which was one of Ukraine’s commitments to the IMF. The task was completed five months ahead of schedule.
In addition, ECA was the first state-owned company to approve its strategy by a decision of the Supervisory Board in accordance with updated corporate governance standards.
The report also notes that in 2025, the main tasks of the ESA will be, in particular, to expand the possibilities of insuring foreign trade contracts, increase the volume of support for foreign economic contracts, and the amount of investment finance insurance. Another priority will be the launch of a loan insurance compensation program aimed at supporting small and medium-sized businesses. The actual reduction in the cost of insurance will contribute to an increase in the number of exporters who want to receive additional protection for their business, explains ECA. And by addressing the lack of capital, ECA will be able to support more businesses and implement larger projects.
In December 2024, the Export Credit Agency (ECA) supported UAH 311.47 million of exports, bringing the total to UAH 7.5 billion since the beginning of the year.
According to the ECA website, the largest number of loans for exporters in December were issued and insured by Vostok Bank (UAH 175 million), Ukreximbank (UAH 43.8 million), and PrivatBank (UAH 40.7 million).
Entrepreneurs in Odesa region (UAH 174.8 million), Dnipropetrovs’k region (UAH 174.8 million), and Zakarpattia region (UAH 43.8 million) were the most active users of ECA services.
In December, Ukrainian exporters planned to trade with Latvia, Poland, and Uzbekistan the most: they will supply grain and flour products, paper and cardboard products, and toys.
In December, the ECA insured a bank guarantee for exports of services for the first time. It was provided by Ukreximbank to the Ukrainian company C.E. Industry Group, which won a tender for the repair of mining equipment of the Polish state-owned company Polska Grupa Górnicza S.A. The contract amount is UAH 43.78 million (PLN 4.25 million), the guarantee amount is UAH 17 million, and the validity period is 13 months.
The Export Credit Agency was established to stimulate the export of goods (works, services) of Ukrainian origin and support exporters-residents of Ukraine through insurance, reinsurance, and guarantees under security contracts for export development. On January 7, 2023, the National Bank of Ukraine was authorized to regulate the activities of the ECA.
The Export Credit Agency of Ukraine (ECA) has supported exports worth UAH 7.22 billion in 11 months of 2024, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko said.
“Supporting and developing non-resource exports is one of the key areas of the Made in Ukraine policy. Over eleven months, the ECA has insured UAH 1 billion of export credits, supporting UAH 7.22 billion of exports. This is almost UAH 2 billion more than in January-November 2023. It is important that one hryvnia of insurance liability was converted into UAH 7.83 of future export revenue,” the press service of the Ministry of Economy quoted the Deputy Prime Minister as saying.
According to the Ministry, the top three regions in terms of exports supported over 11 months are as follows: Kyiv – UAH 3.8 billion (UAH 304 million of loans issued), Lviv – UAH 1.25 billion (UAH 147 million), Vinnytsia – UAH 702.8 million (UAH 183 million).
In 2024, eight banks insured their clients’ loans with the ECA. Ukrgasbank ranked first in terms of supported exports for the period under review (UAH 2.9 billion), FUIB was second (UAH 1.78 billion), and MTB Bank was third (UAH 980 million).
The most popular countries for exporting Ukrainian goods are Poland, the UAE, Azerbaijan, Germany, and Slovakia.
The largest export volumes were in the commodity groups of milk and dairy products, wood and wood products, and processed fruits and vegetables.
The ECA instruments are one of the elements of the “Made in Ukraine” policy, which was presented by President Volodymyr Zelenskyy in February. Its goal is to support non-resource exports, develop production and attract investment in the real sector, the Ministry of Economy reminded.
The Export Credit Agency of Ukraine (ECA) supported exports worth UAH 4.6 billion in the first half of 2024, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said.
“In the first half of the year, the Export Credit Agency of Ukraine increased the volume of export support by almost 2.5 times compared to the same period last year,” the press service of the Ministry of Economy quoted the Vice Prime Minister as saying.
It is emphasized that the development of non-resource exports is one of the key areas of the “Made in Ukraine” economic policy, and ECA instruments help to achieve these goals, as banks recognize ECA insurance as sufficient collateral for a loan, which simplifies and reduces the cost of obtaining a loan.
In addition, cooperation with the ECA reduces the risks of the exporter and the bank, reduces the cost of financing and increases opportunities for business development, Svyrydenko explained.
The three leading regions are as follows: Kyiv – UAH 2.78 billion, Lviv region – UAH 1.11 billion, Vinnytsia region – UAH 234.2 million.
The top five countries to which Ukrainian producers sold their products in January-June (in terms of the value of concluded and insured contracts) were Poland, the UAE, Azerbaijan, Slovakia and Germany.
The most popular export goods were dairy products, wood and wood products, toys, clothing, and processed vegetables.
The tools of the Export Credit Agency of Ukraine are one of the elements of the “Made in Ukraine” policy, which was presented by President Volodymyr Zelenskyy in February. Its goal is to support non-resource exports, develop production and attract investment in the real sector, the Ministry of Economy reminded.
In May 2024, the Export Credit Agency (ECA) supported UAH 1.23 billion of exports, while since the beginning of the year this amount amounted to UAH 2.93 billion, according to the ECA website.
It is specified that one hryvnia of ECA’s insurance liability has generated UAH 11.15 of future export revenue as of today.
Among ECA’s partner banks, MTB Bank provided the largest financing to Ukrainian exporters in May (UAH 79.2 million), and it also supported the largest exports – by UAH 911.2 million. It is followed by Ukrgasbank (UAH 182 million of supported exports and UAH 28.2 million of loans issued) and Oschadbank (UAH 80.8 million and UAH 17.1 million, respectively) in the top three in May.
Since the beginning of the year, the leader among banks is Urgasbank, which has provided export loans worth UAH 120.5 million, thus securing UAH 1.75 billion in future revenue.
Among the regions, Kyiv (UAH 911.2 million), Ivano-Frankivsk (UAH 158.4 million), and Lviv (UAH 165.2 million) regions were the most active users of ECA insurance to develop export potential in May, while partner countries included Poland (UAH 660.7 million), Denmark (UAH 197.6 million), and the Netherlands (UAH 158.4 million). The most popular export products include milk and dairy products, processed vegetables, alcoholic and non-alcoholic beverages.
