EU, Denmark Launch €300M Export Credit Scheme Supporting 40 Companies in Ukraine

The European Union has launched a 300 million euro export credit guarantee program to support European companies doing business with Ukraine amid the ongoing war with Russia. Denmark became the first country to join this initiative, signing an agreement through its export credit agency EIFO, which will provide up to 20 million euros in financing to about 40 Danish companies to strengthen their presence in the Ukrainian market. This program, supported by the European Investment Fund and the InvestEU initiative, aims to reduce risks for European exporters and enhance trade links between the EU and Ukraine, fostering Ukraine's economic integration and EU accession process. The EU has also extended its preferential trade regime for Ukrainian iron and steel products by suspending safeguard measures to support Ukraine’s economy during the conflict. Exports from the EU to Ukraine reached nearly 43 billion euros last year, underscoring Ukraine as a significant and stable market for European goods. Additional agreements with other EU member states, including Germany, the Netherlands, Austria, and central and eastern European countries, are expected soon to expand this support.