Foreign investor eyes stake in Ukraine’s Export Credit Agency
Ruslan Gashev (Photo: ESA)

Ukraine is considering selling up to 25% of the Export Credit Agency (ECA) to a foreign investor, Ruslan Gashev, Chairman of the ECA Board, told Ukrinform.

This could set a precedent for partial privatization of a state-owned company, rather than a full sale, he noted.

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"From the very first version of our law, adopted in 2016, it was stipulated that the state could sell up to 49% of ECA shares. The state will retain control, with the Ministry of Economy having a decisive vote at the general shareholders’ meeting. Currently, we are discussing the sale of a stake not exceeding 25%," Gashev said.

He highlighted the benefits of attracting a foreign investor, including access to international expertise, improved services for Ukrainian exporters, easier access to financing and reinsurance, and an increase in the agency’s capital.

"We want ECA services in Ukraine to be on par with export credit agencies in Italy, Japan, Poland, and Germany," Gashev added.

He also said that in 2026 the agency expects to share public information about the interested investor.

  • The Export Credit Agency of Ukraine is a state institution that supports non-resource exports by insuring the risks of enterprises and banks. It covers foreign economic contracts, export credits, bank guarantees, and investment loans against war risks.
  • Starting January 1, 2026, a new mechanism will be launched in Ukraine property insurance against war risksthe program will provide direct compensation for losses for companies in the frontline regions and partial compensation of insurance payments for businesses throughout the country. The program will be administered by the ECA.