The European Commission is developing a mechanism to guarantee exports to Ukraine and insurance against war risks,

Vice President of the European Commission Valdis Dombrovskis told the European Parliament. “The lack of military insurance in most EU member states is considered one of the obstacles to attracting private business to the recovery of Ukraine,” he noted.

According to the official the European Commission (EC) is currently negotiating with several partners, including Great Britain and the European Bank for Reconstruction and Development (EBRD), regarding a possible scheme to encourage the insurance industry to launch military insurance policies for Ukraine.

In addition, the EC is discussing with the World Bank the possibility of allocating a €40M loan under European guarantees for micro, small, and medium-sized enterprises in Ukraine.