The EBRD, the European Commission, and other partners will help Ukraine restart the private investment insurance market.

The parties have agreed to create the Ukraine Reconstruction Guarantee Program to help ensure private sector insurance against war risks. In the first stage, the program will focus on the insurance of trade operations but will later expand to include investment.

“Guarantee mechanisms should help restore the private insurance market in Ukraine, which will help attract investors for recovery now and ensure long-term reconstruction”, said Economy Minister Yulia Svyridenko.

The parties seek to attract donor support, including grants and other risk-sharing instruments, and to make maximum use of the existing insurance industry infrastructure.

According to Prime Minister Denys Shmyhal, donor support will facilitate the attraction of Ukrainian and international insurance and reinsurance companies. This will hasten the return of foreign investment to Ukraine, which means economic recovery, jobs, and taxes to support the Ukrainian military.

The Minister of Foreign Affairs of Norway, Anniken Huitfeldt, announced that her country will allocate €25M for insurance to develop private business and stimulate investment in Ukraine.