Investment & Fund Management
million in guarantees from the European Investment
Full Credential Description
Italy has joined a significant EU initiative aimed at bolstering trade with Ukraine through the InvestEU-supported Ukraine Export Credit Guarantee Facility. This facility is providing a total of 300 million in guarantees from the European Investment Fund (EIF), with Italy's export credit agency, SACE, receiving 24 million of this total. The initiative is designed to support small and medium-sized enterprises (SMEs) and mid-caps in the EU, facilitating their exports of essential goods and services to Ukraine amidst the ongoing conflict.
The tailored solution provided by the Ukraine Export Credit Guarantee Facility includes guarantees and counter-guarantees that enable EU exporters to mitigate risks associated with trading in Ukraine. This strategic tool is expected to benefit over 550 EU exporters, including approximately 90 Italian companies, by encouraging the export of critical items such as machinery, construction materials, and advanced technologies necessary for Ukraine's economic recovery and reconstruction.
The initiative has already generated significant interest from EU businesses, ensuring demand for the full amount of EIF guarantees. This support not only helps maintain existing trade relationships but also fosters new trade ties with Ukraine, which is crucial for the country's recovery. The commitment from EU Member States, including Italy, underscores the importance of restoring and expanding economic partnerships based on trade and industrial cooperation, which are vital for Ukraine's long-term stability and growth.