18:41 29.08.2017

Ukraine's Cabinet discussing Export Credit Agency's work model with IMF

The work model for the Export Credit Agency (ECA) is being discussed with the International Monetary Fund (IMF), Ukrainian Prime Minister Volodymyr Groysman has said during an ad hoc meeting in the Cabinet of Ministers.

According to him, special attention is paid to the management of fiscal risks that may arise in the agency's work, and the formation of an ECA structure, the government portal reported.

"There is a law that we must comply with. We do not rule out amendments to the legislation that will improve the working conditions for this agency," the press service quoted the prime minister as saying.

The current issues concern the formation of the ECA charter capital, defining the model of its work, including in the area of cooperation with state banks, the report says. Initially, the authorized capital will be formed at the expense of the state budget and it should be included in the draft state budget for 2018. Then one can talk about international technical assistance projects.

Earlier, the Ministry of Economic Development and Trade planned to assign UAH 345 million in the budget for the formation of ECA.

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