In a big switch, China’s state export credit agency is extending $1 billion of insurance cover to allow Naftogaz to get low-cost credit to buy high tech Chinese equipment. Known as Sinosure, the Beijng-based agency covers political risk such as currency devaluations and war. Only two years ago, Beijing discouraged state companies from investing in Ukraine, citing the war with Russia in Ukraine’s southeast corner.
In a big switch, China’s state export credit agency is extending $1 billion of insurance cover to allow Naftogaz to get low-cost credit to buy high tech Chinese equipment.
