Germany signs agreement to strengthen the Ukrainian economy
On the occasion of the Ukraine Recovery Conference taking place in Berlin, Germany's leading export credit agencies and investment insurers signed a Memorandum of Understanding on Cooperation for the support of Ukraine.
Federal Minister for Economic Action Habeck: "Germany is a pioneer in covering economic and political risks for German exporters and investors in Ukraine. However, international coordination of the commitment is important. At the Ukraine Recovery Conference 2024, we therefore reached an agreement between 13 export credit agencies and investment insurers from various countries to establish a dialogue format and a culture of risk sharing. This will improve the foreign trade promotion instruments of the respective countries. It is a strong, united commitment to solidarity and economic cooperation with Ukraine that helps to mobilise private capital and leverage the potential of the Ukrainian economy."
The memorandum aims to intensify bilateral trade and German investment in Ukraine and thus support reconstruction in Ukraine. Ukraine is to be recognised internationally as an attractive trade and investment partner. Through the memorandum, the signatories emphasise their claim to be pioneers in promoting the economic, social, infrastructural and ecological reconstruction of Ukraine.
The initial signatories are Atradius Dutch State Business (Netherlands), EDC (Canada), EGAP (Czech Republic), EKN (Sweden), Euler Hermes (Germany), EIFO (Denmark), Finnvera (Finland), KUKE (Poland), PricewaterhouseCoopers (Germany), NEXI (Japan), SACE (Italy), UKEF (UK) and US-EXIM (USA). They have agreed to continue their support for Ukraine in joint co-operation and to establish a format for exchanging experiences.
The operational focus of the memorandum is on contact between experts and practitioners from the respective institutions. The objective is to exploit existing flexibilities in the cover policy, optimise the promotional instruments on the basis of best practice solutions and share risks between the participants in the memorandum. They expect a substantial strengthening of the funding instruments in favour of Ukraine.
The first signatories are calling for more countries to join the network in support of Ukraine in the future. The aim is to gain a broad and strong base of Ukraine supporters.
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
