ECA settled an insurance case under an export credit

JSC “CREDITWEST BANK” received a reimbursement of UAH 54 million from the Export Credit Agency (ECA) under an export credit insurance agreement.

 

The insurance claim was settled after all conditions stipulated in the insurance agreement were met. This case confirms the effectiveness of the insurance mechanism that the ECA implements as a tool for state support of exports.

 

For Ukrainian exporters, credit risk insurance through the ECA means expanded access to financing: the bank receives a guarantee of reimbursement in the event that the borrower fails to meet its obligations

 

This, in turn, allows us to more actively support businesses by offering more flexible lending terms and lower interest rates. The lower the risk, the more accessible financing is for the bank’s clients.