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
Ukraine since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of November 23 had exported 20.17 million tonnes of grain and legumes, which is 3.2 million tonnes less than on the same date last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 11.63 million tonnes of wheat (less by 1.4 million tonnes), 3.69 million tonnes of barley (up by 230,000 tonnes) and 4.5 million tonnes of corn (down by 2.1 million tonnes) were exported.
As of November 23 of this year, 66,600 tonnes of flour were also exported.
As reported, in the 2019/2020 MY Ukraine exported a record 57.2 million tonnes of grains, legumes and flour, which is 13.5% more than in the previous MY.
Structure of export of services in 1st halfyear of 2020 (graphically).
Ukraine since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of November 16 had exported 18.74 million tonnes of grain and legumes, which is 3.6 million tonnes less than on the same date last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 11.29 million tonnes of wheat, 3.51 million tonnes of barley and 3.58 million tonnes of corn were exported.
As of November 16 of this year, 65,500 tonnes of flour were also exported.
As reported, Ukraine exported a record 57.2 million tonnes of grain, legumes and flour in the 2019/2020 MY, which is 13.5% more than in the previous MY.
Ukraine decreased the export of titanium containing ore and concentrate in kind by 15.3% in January-October 2020 compared to the same period in 2019, to 437,702 tonnes.
According to statistics released by the State Customs Service, in January-October 2020, the export of titanium ore and concentrate in monetary terms decreased 15.1%, to $107.45 million.
Ukraine imported 890 tonnes of titanium ore for $748,000 during that period (711 tonnes of ore for $500,000 in January-October 2019).
Vilnohirsk state mining and metallurgical combine (Dnipropetrovsk region), Irshansk state mining and processing combine (Zhytomyr region), Valki-Ilmenite and Mezhdurechensk Mining and Concentration Complexes (both are located in Irshansk, Zhytomyr region) are the main producers of titanium ore in Ukraine.
Dnipro-based Velta production and commercial firm built a mining and processing complex at the Birzulivske ilmenite deposit, which has a 240,000-tonne ilmenite concentrate capacity per year.
Holding company Velta Group Global Ltd. was registered in London in November 2011.
Ukrainian enterprises reduced the import of copper and copper products in value terms by 9% to $93.276 million in January-October this year compared to the same period last year.
According to customs statistics published by the State Customs Service of Ukraine, export of copper and copper products decreased 7.6% to $63.017 million in the first 10 months of 2020.
In October, copper and copper products were imported in the tune of $11.915 million, and exported in the tune of $7.934 million.
