The Verkhovna Rada adopted the law on insurance of investments in Ukraine against war risks
The Verkhovna Rada of Ukraine adopted draft law No. 9015 on the insurance of investments in Ukraine against military risks.
The adoption of the law now allows the Export Credit Agency (ECA) to insure and reinsure investments of both international and Ukrainian companies even before the end of martial law.
Previously, the domestic EKA was legally deprived of the opportunity to provide services for the insurance of domestic investments. According to the State Statistics Service of Ukraine, in 2021, 69% of all capital investments were made at the expense of enterprises and organizations’ own funds.
“One of the limitations for the attraction of private investments in the Ukrainian economy during the war is the lack of effective mechanisms for insurance of war risks. And without the attraction of private capital, a full-scale, large-scale post-war reconstruction of Ukraine is impossible. The law adopted by the Verkhovna Rada actually restores justice. It is aimed at expanding the capabilities of the ECA to carry out insurance investments in Ukraine”, — commented on the adoption of the draft law, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine Yuliya Svyridenko.
In June of this year, it was reported that the Ministry of Economy agreed with international partners to start work on the creation of the Ukraine Recovery Guarantee Facility, which will contribute to ensuring the insurance of the private sector against war risks.