Danish companies will receive EU support to work in Ukraine – first deal worth 20 million euros
The European Investment Fund (EIF) and the Danish Export Credit Agency EIFO have signed the first agreement within the framework of the European Union's export credit guarantee program for Ukraine, the press service of the Ministry of Economy reported.
The program is aimed at supporting European companies working with Ukraine, as well as the economic integration of Ukraine with the European Union.
The signed guarantee provides financing of up to EUR 20 million to support export credit operations. It is expected that around 40 Danish companies will be able to strengthen their presence in Ukraine thanks to this agreement.
This is the first of approximately 13 agreements planned in EU member states. The total volume of the program is approximately €300 million to support small and medium-sized enterprises (SMEs) and mid-caps from the EU.
The EIF guarantee mechanism is implemented within the framework of the innovative "export credits" program with the support of the InvestEU initiative of the European Commission.
"The export credit guarantee mechanism, implemented by the European Investment Bank Group and the European Commission, helps reduce risks for European companies. Through national export credit agencies, this tool gives businesses the confidence to work with Ukrainian partners and develop trade," said First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko.
The Ministry of Economy noted that such support from the EU is important for the Ukrainian economy and gradual integration into the single European market.
- In June 2024, EIFO signed a memorandum of cooperation with Ukraine, which is aimed at boosting bilateral trade and Danish investments in Ukraine.
- On November 27, 2024, Ukraine and Denmark agreed on a fast-track mechanism for investments.
- On March 25, it became known that Danish companies would be compensated for 70% of their investments in Ukrainian defense enterprises.
