In the first five months of 2024, the Export Credit Agency of Ukraine (ECA) supported UAH 2.93 billion of exports. And one hryvnia of ECA's insurance liability brought UAH 11.15 of future export revenue. This was stated by Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

"Increasing non-resource exports, in particular through financial instruments to support exporters, is one of the key areas of the Made in Ukraine economic policy. In the first five months of this year, export support from the Ukrainian ECA amounted to almost UAH 3 billion, which is twice as much as in the same period last year. This means that domestic producers are more actively using government support to supply Made in Ukraine products to foreign markets. It is important for us to continue building our export potential," said Yuliia Svyrydenko.

Since the beginning of the year, exporters from Kyiv (UAH 1.15 billion of supported exports), Lviv region (UAH 1.1 billion) and Vinnytsia region (UAH 243 million) have been the most active users of ECA insurance.

In May, the top three regions were as follows:

- Kyiv - UAH 911 million;

- Ivano-Frankivsk region - UAH 158.4 million;

- Lviv region - UAH 65.2 million.

Poland (UAH 660.7 million), Denmark (UAH 197.6 million) and the Netherlands (UAH 158.4 million) were the top countries to which Ukrainian producers most actively sold their products in May.

The most popular export products include milk and dairy products, processed vegetables, alcoholic and non-alcoholic beverages.

Background information

PJSC Export Credit Agency was founded in 2018. The sole founder and shareholder of ECA is the 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.

The Agency's main goal is to support and stimulate the large-scale expansion of exports of goods (works, services) of Ukrainian origin. The institution 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 to strengthen the credit policy of Ukrainian exporters and effectively manage their financial flows.

In 2023, ECA insured exporters' loan agreements worth UAH 1 billion and foreign economic activity agreements of Ukrainian enterprises worth UAH 64 million, supporting a total of UAH 7.84 billion in exports of goods and services. The ECA's insurance liability amounted to UAH 934.35 million, and one hryvnia of insurance liability was thus converted into UAH 8.39 of future export revenue.