The Verkhovna Rada of Ukraine has adopted as a basis bill No.9015 allowing the Export Credit Agency (ECA) to insure investments of Ukrainian and foreign companies in Ukraine against war risks.

According to the parliament's website, 241 MPs voted for the document, with the required minimum of 226 votes.

"The bill on insurance of investments in Ukraine against war risks was developed to create conditions for scaling up investments in Ukraine during the war and post-war reconstruction," head of the parliamentary Committee on finance, tax and customs policy Danylo Hetmantsev said.

Bill No. 9015, sponsored by 15 MPs, expands ECA's capabilities by allowing it to carry out insurance and reinsurance of direct investments, including insurance of investments in Ukraine against risks that may be caused by armed aggression, hostilities and/or terrorism.

The bill stipulates such insurance is carried out only on condition that investments are directed to the creation of facilities and infrastructure necessary for the development of the processing industry and the export of goods (works, services) of Ukrainian origin.

According to the current legislation, ECA insures export contracts and has the right to insure investments from Ukraine to other countries. The bill stipulates the expansion of its mandate to insure investments in Ukraine.