MIGA will provide three Ukrainian state banks with up to $10M in guarantees for EBRD trade financing.

The Multilateral Investment Guarantee Agency (MIGA), as part of a joint project with the European Bank for Reconstruction and Development (EBRD), will provide state-owned Ukrgasbank, Ukreximbank, and Oschadbank with a total of up to $10M in guarantees against the risk of non-payment of their obligations to the EBRD, as announced on the MIGA website. Earlier, the EBRD reported that the total amount of the MIGA cooperation program on trade financing in developing countries through state banks is $200M, and the first project will be in Ukraine but did not specify its scope. Guarantees are issued for up to six years with an initial three-year period.