Austria allocates EUR 500 million for export and investment insurance to Ukraine
Starting from mid-May, the Austrian Ministry of Finance and the Austrian Export Credit Agency will start accepting applications for export and investment insurance in Ukraine at the expense of a special fund for Ukraine.
It is expected that over the next 5 years, EUR 500 million will be allocated to cover operations in Ukraine, and the attraction of funds from international financial institutions will make it possible to obtain up to EUR 1 billion.
“Approximately EUR100 million per year is earmarked for new business. This will also open up opportunities for Austrian exporters in the process of Ukraine’s recovery,” the Ministry of Finance said in a release.
It is emphasized that since funds are limited and the goal is to achieve a wide diversification of risks, in particular in the supported sectors, small and medium-sized transactions in the public sector will be possible at the first stage on the basis of a state guarantee.
“This will allow us to make vital investments for Ukraine. These include the supply of drinking water and heating, the provision and rehabilitation of the transport sector with roads, bridges and railway infrastructure, as well as supply agreements and investments such as joint repair shops for buses, trams and trains,” commented Finance Minister Magnus Brunner.
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