The European Bank for Reconstruction and Development (EBRD) and the Multilateral Investment Guarantee Agency (MIGA) have signed a landmark first co-financing agreement, under which MIGA will issue up to $200M in trade finance guarantees to the EBRD to take part of the EBRD’s risk under its Trade Facilitation Program (TFP). The first country to benefit from this agreement will be Ukraine. The EBRD, a focal point of international support for Ukraine, deployed €1.7B there in 2022, has pledged to invest €3B in Ukraine in 2022-23, and has marshaled further international partnerships and financing with shareholders and donors. The MIGA guarantee was signed during a visit to EBRD President Odile Renaud-Basso by MIGA’s Executive Vice-President Hiroshi Matano.
The EBRD and MIGA join forces in covering trade finance risk in Ukraine.
Odile Renaud-Basso and MIGA’s Executive Vice-President Hiroshi Matano