Ukraine Fund

/UPDATED/

On the basis of the Resolution of the Government of the Czech Republic No. 525 of 12 July 2023 on the capital strengthening of Export Guarantee and Insurance Corporation, a.s. (EGAP) for the purpose of insurance of export credit risks to Ukraine and the subsequent instruction of the Ministry of Finance of the Czech Republic, as the sole shareholder of EGAP, it is again possible to provide insurance of export of goods and services to Ukraine.

As of 14 May 2024, EGAP continues to insure exports to Ukraine on even more favourable terms, which were approved by the Government on the proposal of the Ministry of Industry and Trade and the Ministry of Finance by Resolution No. 249 of 17 April 2024.

An overview of the basic conditions of insurance under the Ukraine Fund:

Possible types of insurance according to the General Insurance Conditions in force	insurance of short-term export supplier credit against the risk of non-payment "B" (90 % insurance cover, 10 % deductible) insurance of bank-financed supplier credit against the risk of non-payment "Bf" (95 % insurance cover, 5 % deductible) insurance against the risk of the impossibility of performance of the Export Contract "V" (85 % insurance cover, 15 % deductible)
Subject of export	goods and services under the Export Contract
Maximum insurance value	5 mil. EUR per foreign buyer/borrower
Maximum insurance value	length of risk up to 1,5 year for B/Bf - maximum maturity of the insured supplier credit/invoice for V - duration of the insurance cover according to the insurance contract
Minimum collateral structure	due to the nature of the product (VPP B, Bf, V) without further assurance

Other conditions:

positive experience with the exporter and importer;
geographical aspect - the importer is located outside the war zone at the time of insurance, and the mode of transport is not affected;
a standard deductible according to the insurance product, with the proviso that the insured bank will not have to share in the deductible amount for the Bf product and may pass this on to the exporter.

The assessment of the insurability of the Ukrainian borrower will be carried out according to EGAP's standard internal methodology based on:

evaluation of the current financial situation based on the financial statements for the last 3 years,
granting of an acceptable internal rating and EGAP limit,
verification of the existence of the importer and its location or operation outside the war zone.

The risk assessment will be abstracted from the actual territorial risk of Ukraine.

Due to the foreign exchange regulation in Ukraine, evidence will be required that the buyer/borrower is authorized by the Ukrainian authorities to pay its obligations abroad/in the Czech Republic..

This offer does not constitute a promise to provide insurance. There is no legal right to export credit risk insurance.

Apply here:

Insurance of a Short Term Export Supplier Credit against the Risk of Non Payment