Minister of Economic Development, Trade and Agriculture Ihor Petrashko has announced the signing of the first contract with the Export Credit Agency (ECA) for insurance of supplies to African countries in July 2020.

"This month, the first insurance contract for Ukrainian enterprises working with African countries where risks exist must be signed," Petrashko said in an interview with Interfax-Ukraine.

At the same time, the ECA's current budget allows only a test launch, the minister said.

"Now this is UAH 200 million, but this is a test amount. We will discuss further. So far we are talking about insurance of risks of Ukrainian companies for deliveries to other markets, but where Ukrainian banks issue loans. I hope that by the end of 2021 we will come to the concept, and already from 2022 we will be doing expanded projects," Petrashko said.