KUKE, Poland’s export credit agency, insured a Polish company’s production complex in Ukraine for more than $45 million. This is the first cooperation between KUKE and the World Bank Group’s investment guarantee agency, MIGA, after the signing of a memorandum of understanding at the Ukraine Recovery Conference 2024 in Berlin.
Under the agreement, MIGA provides political risk insurance, which KUKE reinsures. This coverage protects against potential losses, including those arising from war.
The Ministry of Economy of Ukraine noted that the signed agreement demonstrates the possibility and practicality of investing in the Ukrainian economy now, as Ukraine has the necessary investor support toos and a developed system of insurance against war risks. The next step will be creating a comprehensive nationwide insurance system against war risks, which will help the private sector and consumers obtain affordable insurance.