Austria establishes EUR 500 million special fund to support investments in Ukraine
Kyiv • UNN
Austria has opened a EUR 500 million special loan fund to support export operations with Ukraine over the next five years, providing risk coverage and facilitating investments crucial for Ukraine's recovery, particularly in infrastructure, transport and supply.
Austria has opened a special loan fund totaling 500 million euros to support export operations with Ukraine over the next five years. This was reported by UNN with reference to a statement by the Austrian Ministry of Finance.
Details
Russia has been attacking Ukraine for more than two years, making any business with Ukrainian companies very risky for Austrian exporters and investors. Therefore, the Ministry of Finance and the Austrian Control Bank have created conditions to support Austrian exports to Ukraine, which would otherwise be impossible to realize due to the special risk situation
The support will be provided through a special "Ukrainian" fund in the OeKB created by the Austrian Ministry of Finance to cover the risks of export operations with a country where the war is ongoing.
About 100 million euros a year will be allocated for the development of new business, which will also give Austrian exporters the opportunity to restore Ukraine.
Finance Minister Magnus Brunner said that, in addition to the domestic economy, the Ukrainian population and economy in particular benefit from Austrian export support, as Austria is actively contributing to the country's recovery.
Addendum
It is noted that under the existing export promotion procedure, the agency already facilitates export operations totaling EUR 3-5 million in Ukraine with a payment term of up to 3 years through the OeKB settlement office.
The new mechanism will allow for a wider diversification of risks when investing in the public sector of Ukraine on the basis of state guarantees.
This will allow us to make investments that are vital to Ukraine. These include the supply of drinking water and heat, the provision and rehabilitation of the transport sector with roads, bridges and rail infrastructure, as well as supply operations and investments such as joint workshops for buses, trams and trains
Recall
Minister of Finance Sergii Marchenko discussed with Austrian Ambassador Arad Benke the attraction of Austrian investments for the restoration and reconstruction of Ukraine
