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The Export Credit Agency (ECA) and JSC “CREDITWEST BANK” have signed a new cooperation agreement.

15.11.2024
The Export Credit Agency (ECA) and JSC “CREDITWEST BANK” have signed a new cooperation agreement

We are excited to announce our participation in the project of portfolio insurance of export credits to be issued for the fulfilment of export contracts. Portfolio insurance is a mechanism to support exporters in times of war in order to extensively support, restore and increase the presence of Ukrainian producers and suppliers of goods and services in global markets.

 

Under the program, the ECA facilitates Ukrainian exporters' access to export credits and gives banks protection against the risk of default by the exporter.

 

The main requirements are:

  • targeted use of financing: export or production of Ukrainian goods (works, services) for further export;
  • the maximum amount of loan(s) to support exports per 1 business group may not exceed UAH 90 million (in equivalent);
  • the maximum debt limit (principal amount) per borrower is set individually for each bank, but may not exceed UAH 20,000,000 (in equivalent);
  • the debt limit (principal amount) of the borrower does not exceed 85% of the amount of the foreign economic agreement (contract) for which the export credit(s) is granted;
  • the debt limit (principal amount) of the business group does not exceed 85% of the value of the foreign economic agreement(s) under which the export credit(s) is granted;
  • the loan term is no more than 5 years.

 

Ukrainian exporters will now be able to receive financing on favourable terms, which will facilitate their international expansion and business development. Supporting exporters is one of the key areas of our business, and we are confident that this partnership will help our clients achieve even greater success.


For information:

PJSC Export Credit Agency was founded in 2018. The sole founder and shareholder of ECA is Ukraine's state, represented by the Cabinet of Ministers of Ukraine. The corporate rights owned by the state in the authorised capital of ECA are managed by the Cabinet of Ministers of Ukraine through its authorised management body - the Ministry of Economy of Ukraine.