17:52 01.02.2018

ECA will start work by June 2018 - Kubiv

ECA will start work by June 2018 - Kubiv

The Cabinet of Ministers expects the launch of the Export Credit Agency (ECA) by June 2018, according to the website of the Ministry of Economic Development and Trade.

"We expect that in February the draft ECA constituent documents will be approved by the government. And then the entire legal process related to the creation of the agency will be completed within the next four months. Afterwards the selection of relevant qualified specialists will begin," First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv said.

The government committee on the issues of economic, financial and legal policy, development of the fuel and energy complex, infrastructure, defense and law enforcement activities has approved the draft ECA constituent documents. It is planned to create the agency in the form of a public joint stock company.

The Ministry of Economic Development and Trade is responsible for the placement of the agency shares. The number of shares in the first issue will be 200,000. The charter capital of the agency will be UAH 200 million and will be provided from the national budget, the ministry informed.

By the same decision, the government committee approved the ECA charter, the provisions on the supervisory council, the board, the revision commission, the procedure for conducting a competitive selection of candidates for the post of members of the ECA supervisory board.

As reported, the Cabinet of Ministers intends to consider the creation of the ECA on February 7.

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