The ECA insures an investment project for a Ukrainian food manufacturer, providing ₴92M in coverage against war risks.

The Export Credit Agency has insured the second project against war risks for an amount of ₴92M. The project is being implemented by a private enterprise, Vilis, which produces pasta and apple jam. The enterprise is investing ₴52M of its funds and is taking a ₴40M loan from Ukreximbank.

The project’s total cost includes new equipment, its delivery and installation, and the construction of a boiler house. The modernization will allow the enterprise to increase production by 4,000 tons annually and expand its sales markets.

Currently, the company produces about 10,000 tons of pasta and 800 tons of instant noodles, of which 486 tons of pasta and 100 tons of instant noodles are exported.

This example of insurance provided by the ECA can be a good reference point for the insurance market and an incentive to work more actively with parties who plan to invest in developing or creating a business in Ukraine, the Ministry of Economy noted.