• Українською
  • Ukraine and UK are working on implementation of war risk insurance instruments
    Ministry of Economy of Ukraine, posted 30 November 2022 22:27

    Work is underway to develop mechanisms for accelerating attraction of British investments in major defense, energy and infrastructure projects. This was discussed during a meeting between First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and Chief Executive Officer of the UK Export Finance (UKEF) Samir Parkash.

    “Ukraine continues to consistently implement projects to be financed by the UKEF. Within the credit line of GBP 3.5 billion, we are working on implementation of major projects in the field of defense, energy and infrastructure. In addition, projects on the early restoration of Ukraine’s infrastructure with the participation of British companies are at the final stage. In particular, the restoration of 6 bridges in Kyiv region,” said Yuliia Svyrydenko.

    During the meeting, the parties paid special attention war risk insurance mechanisms. They discussed in detail the instruments of war risk insurance provided by the UKEF, which would facilitate investments in Ukraine.

    “In its century-long history, the UK Export Finance has repeatedly provided insurance against war-related risks. This applies to both exports of goods and investments. Unfortunately, russia’s aggression forces us to turn to these instruments again. We will work to ensure that the business community is aware of the possibilities of insurance and the conditions of its granting,” said Yuliia Svyrydenko.

    In turn, the head of the UKEF Samir Parkash confirmed readiness of the UK to assist in restoration of Ukraine and assured that British business is interested in investing in the Ukrainian economy.