The Export Credit Agency has supported UAH 188M in exports.

The Export Credit Agency (ECA) insured exporters’ credit contracts totaling UAH 188M ($5.1M), the Ministry of Economy reported. The program’s bank partners approved 18 applications, which provide for the provision of funds to Ukrainian entrepreneurs for the supply of products to international buyers. Producers of corrugated paper and cardboard, roasted sunflower seeds, rubber products, furniture, and solid fuel boilers will receive credit funds. Currently, banks that carry out export lending with the support of ECA are processing 20 applications from suppliers in the amount of UAH 88.1M. “Currently, exporters can take a loan for up to UAH 20M at a favorable interest rate under the 5-7-9% program. To stimulate banks to conclude such credit agreements, the state guarantees the return of 85% of the funds if the manufacturer does not fulfill its credit obligations”, noted Trade Representative of Ukraine Taras Kachka.