By KYIV. May 11 (Interfax-Ukraine) – The First Ukrainian International Bank (FUIB) has entered into an agreement with the Ukrainian Export Credit Agency (ECA) on cooperation under the bank’s portfolio risk insurance program for loans provided to implement export contracts, the ECA said on its website.
According to the agency, thanks to ECA’s insurance of the bank’s risks associated with issuing loans for foreign economic contracts, FUIB would be able to provide loans to exporting clients under simplified collateral requirements.
To obtain a loan of up to UAH 5 million for up to a year, it is enough for a client to provide property rights under an export contract and a guarantee from the owner. The combination of the program with the Affordable Loans 5-7-9% program will allow issuing of loans at preferential interest rates.
Representatives of small-, medium- and large-size businesses can count on such support from FUIB.
As reported, portfolio loan insurance for implementing export contracts under simplified collateral requirements was introduced by Ukraine’s Ministry of Economy and ECA in cooperation with Ukrainian banks in the summer of 2022. To date, it is the most effective tool to support exporters suffering from the war.
Ukrgasbank, Ukreximbank, PrivatBank, KredoBank, and FUIB are providing loans for implementing export contracts under ECA portfolio insurance.
