Export credit agencies (ECA) have started accepting applications for investment insurance against military and political risks. The agency will offer two insurance products – direct investment insurance for investors and investment credit insurance for banks.
Previously, war risk insurance was provided only by international organizations: the World Bank’s International Investment Guarantee Agency (MIGA), the American Development Finance Corporation (DFC), and the Polish agency KUKE.
Now, ECAs have joined the list of organizations that are ready to insure investments. Insurance will contribute to creating facilities and infrastructure necessary for developing the processing industry and exporting goods.
Since the full-scale invasion, 97 Ukrainian exporters obtained coverage sufficient to execute ₴1.48B in export agreements using ECA insurance. The total volume of supported exports amounted to ₴12.86B ($325M).
As a reminder, Unity, the affordable ship insurance program, implemented by Marsh McLennan and Lloyd’s of London and the government of Ukraine, extends to all non-military cargo.