10:04 14.02.2019

Economy ministry continues working on launch of ECA

2 min read
Economy ministry continues working on launch of ECA

The Economic Development and Trade Ministry of Ukraine continues working on the creation of a supervisory board of the Export-Credit Agency (ECA) required for the launch of the agency, First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said.

"We have carried out some work and consultations on this issue. I think we will hold another meeting if necessary. We will resolve this issue," he said at a government meeting in Kyiv on Wednesday.

Prime Minister Volodymyr Groysman reiterated the importance of launching the ECA as soon as possible. At the same time, he added that the delay was due to the fact that the government is launching such a project for the first time.

In addition, Groysman said that the agency will work not so much with its own resources as with tools for attracting resources.

"It is necessary to fill it not with a financial resource, but with tools for access to broad resources, since this is not a question of millions, it is a question of billions, perhaps dozens of billions, to support Ukrainian exports," he said.

As reported, in February 2018, the Cabinet of Ministers approved the creation of ECA in the form of private joint-stock company and instructed the Economic Development and Trade Ministry to conduct a private placement of its shares.

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