EIB receives EUR 475 mln in export credit guarantee applications for SMEs exporting to Ukraine

The European Investment Bank Group (EIB Group) has received applications totaling EUR 475 million for export credit guarantees from small and medium-sized enterprises (SMEs) in the EU exporting goods and services to Ukraine, Kristina Mikulova, head of the EIB's regional hub for Eastern Europe, told Interfax-Ukraine.

As reported, a pan-European export credit guarantee mechanism was launched in the summer of 2024 under the InvestEU programme to support EU-based SMEs exporting to Ukraine. This instrument, with an initial budget of EUR 300 million, is managed by the European Investment Fund (EIF) – the EIB Group's entity specializing in supporting micro, small, and medium-sized enterprises in Europe.

"Applications from European export credit agencies (ECAs) are being accepted until the end of April 2025. As of now, we are seeing significant interest: 13 applications have already been submitted for a total of around EUR 475 million, exceeding the initial EUR 300 million budget. These applications have come from ECAs across several EU member states, ensuring broad geographic coverage. We expect the first guarantee agreements to be signed within this year," Mikulova stated.

Under this mechanism, the EIF provides guarantees to ECAs in the EU, allowing them to insure or guarantee export operations by EU companies supplying goods and services to Ukraine. This, in turn, facilitates the export of essential goods, technologies, equipment, and services to Ukraine – resources that are critical for strengthening the country's resilience, driving economic recovery, and supporting long-term reconstruction.

"Such high demand reflects not only the relevance of this tool but also the strong interest of European businesses, despite the risks, in continuing to export to Ukraine – maintaining and expanding trade ties, supporting the Ukrainian economy, and contributing to its recovery amid the ongoing war," Mikulova said.