Ukraine has officially launched a mechanism to insure investments against war risks.

The Ukrainian Parliament adopted Law No. 9015 on insurance of investments against war risks through the Export Credit Agency (ECA). The document amends the current law on financial mechanisms for stimulating export activity. In particular, it eliminates the gaps that limit the possibility of insuring domestic investments by the Export Credit Agency, including in the conditions of military operations and post-war reconstruction.

Now, pending approval of the documents and approval of the necessary regulatory acts by the Cabinet of Ministers and the National Bank, Ukrainian investors will be able to apply directly to the ECA, or to one of the banks or an insurance company that cooperates with the ECA, and take out the appropriate insurance. The law is expected to support economic activity, strengthen the industrial sector, create new jobs, and fill budgets at all levels.

Over 10 months, the ECA has supported ₴4.99B ($136M) in exports and insured ₴800.4M in bank financing to Ukrainian exporters to implement contracts.