The European Investment Fund (EIF) and the Export and Investment Fund of Denmark (EIFO) have signed the first agreement under the EU’s Export Credit Guarantee Program for Ukraine, as reported by the Ministry of Economy. The program aims to support European companies working with Ukraine and enhance Ukraine’s economic integration with the EU.
The signed guarantee allows for financing of up to €20M to support export credit operations. It is expected that this agreement will enable around 40 Danish companies to strengthen their presence in Ukraine. This is the first of approximately 13 agreements planned with EU member states. The total volume of the program is approximately €300M, and will be used to support small and medium-sized enterprises (SMEs) and mid-cap companies from the EU.
“The export credit guarantee mechanism, implemented by the EIB Group and the EC, helps reduce risks for European companies. Through national export credit agencies, this tool gives businesses the confidence to work with Ukrainian partners and develop trade,” noted Minister of Economy Yulia Svyrydenko.