Swedish officials have included the relevant initiative in the draft budget for 2024. The document is pending approval. The guarantees will be covered by the Swedish Export Credit Agency.
For Ukrainian and Swedish companies, Swedish ECA guarantees mean
– investment security;
– safer conditions for the delivery of important goods to Ukraine;
– compensation in case of force majeure.
In other words, businesses will not have to bear the entire risk in transactions with Ukraine, and therefore Swedish companies will be more willing to enter the Ukrainian market.
“More and more ECAs from around the world are getting involved in insuring the risks of their exporters to work in Ukraine. The fact that Sweden will also insure against risks in Ukraine starting next year is an important signal. This means that the investment insurance market in our country, despite all the security challenges, is starting to work,” said Yulia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.
Earlier, the Export Credit Agencies of Germany, France, Italy, the United Kingdom and Japan confirmed their participation in political risk insurance for their companies’ operations in Ukraine.
In particular, they provide guarantees against the following types of risks
– political violence;
– non-convertibility;
– expropriation.
The state-owned Polish Export Credit Insurance Corporation (KUKE) is also ready to insure Ukrainian and international investors.
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