The amendment applies to both foreign investment and Ukrainian companies investing in the Ukrainian economy and developing exports.
The ECA Charter was amended by a government decision. This was done in order to bring it into line with the Law of Ukraine No. 3497-IX “On Amendments to the Law of Ukraine “On Financial Mechanisms for Stimulation of Export Activity in Relation to Insurance of Investments in Ukraine against Military Risks””.
Thus, the ECA’s task of protecting Ukrainian exporters against the risk of financial losses related to investments in the creation of facilities and infrastructure necessary for the development of manufacturing industry and export of goods (works, services) of Ukrainian origin through insurance and reinsurance was extended.
For this purpose, the ECA was allowed to obtain international financial assistance from international and foreign financial organisations, foreign governments, foreign banks and export agencies.
PJSC Export Credit Agency was established in 2018. The sole founder and shareholder of ECA is the state, represented by the Cabinet of Ministers of Ukraine. ECA protects Ukrainian exporters from the risk of non-payment and financial losses associated with the execution of foreign trade contracts, and provides a wide range of services that help improve the credit policy of Ukrainian exporters and effectively manage their financial flows.
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