According to Ukrinform, this was announced by Prime Minister Denis Shmygal in Telegram.

“We have decided to increase the authorized capital of the Export Credit Agency by UAH 1.8 billion. This will expand the expansion of Ukrainian goods to foreign markets,” Shmygal wrote.

Today, the government adopted a resolution “On Amendments to the Charter of the Private Joint-Stock Company” Export Credit Agency “, which was initiated by the Ministry of Economy – the authorized governing body of JSC” Export Credit Agency “. hryvnia, which we plan to complete in September this year, approving the report on the results of the NSSMC issue “, – said Deputy Minister of Economy of Ukraine Mykhailo Lev.

The decision to increase the authorized capital of ESA by 1.8 billion hryvnias was made by the Cabinet of Ministers of Ukraine in March 2021 in order to increase the efficiency of ESA in the direction of financial support for exports.

“ESA’s financial capacity with a capital of 2 billion hryvnias will allow it to more effectively fulfill the tasks set by the Law of Ukraine” On Ensuring Large-Scale Expansion of Exports of Goods (Works, Services) of Ukrainian Origin by Insurance, Guaranteeing and Cheaper Export Crediting. ” We hope that the new financial opportunities will allow ESA to establish effective activities of the Agency for the benefit of Ukrainian exporters, “Lev said.

As reported by Ukrinform, in February 2018 the Cabinet of Ministers adopted a resolution on the establishment of PJSC “Export Credit Agency”, approved its constituent documents (statute, regulations on the supervisory board, the board, the audit committee, the procedure for competitive selection of candidates for the position of member supervisory board). The legal entity PJSC “Export Credit Agency” was registered in November of the same year. Authorized capital in the amount of UAH 200 million was also formed and measures were taken for the private placement of the first issue of ESA shares.

The authorized capital of the Export Credit Agency was increased by UAH 1.8 billion by issuing 1,800,000 additional shares of the existing nominal value, retaining 100 percent of such shares in pursuance of the Law of Ukraine “On the State Budget of Ukraine for 2021” and the Cabinet Resolution. Of Ministers of Ukraine “On increasing the authorized capital of the private joint-stock company” Export Credit Agency “.

At a government meeting, Denis Shmygal reminded that the agency had not worked since 2018, as it did not have enough funds at its disposal, the agency’s correspondent reports.

In addition, Shmygal noted that the state will support business through other programs, in particular, over the last year more than 60 billion UAH of available and cheap loans were received by small and medium-sized businesses.

The Prime Minister added that in the second quarter of Ukraine’s GDP grew by 5.4%. An important role in economic recovery was played by the growth of Ukrainian exports, which grew by 31% in six months, or 7 billion dollars.