During the Ukrainian-Scandinavian Economic Forum, Ukraine and its partners are working on the architecture of war risk insurance for investment,

said Deputy Minister of Economy of Ukraine Oleksandr Hryban. He clarified that it is about creating a target trust fund, which will guarantee that the private reinsurance market will become active again in Ukraine. This, in turn activates the private capital market, the official added.

Hryban reminded attendees that the Multilateral Investment Guarantee Agency (MIGA) is already considering applications from foreign investors to cover investment risks. For example, Japan has already contributed the first $23M tranche to the trust fund to cover military risks for Ukrainian investment.

In addition, several export credit agencies, particularly British and German, are demonstrating a proactive position and are ready to provide insurance for their investors. Therefore, Hryban called on Scandinavian business representatives to involve the ESAs of their countries to review and expand the limits for Ukraine.