Romania has officially joined a European Union initiative aimed at strengthening trade with Ukraine, as Exim Banca Romaneasca signed on to the InvestEU Ukraine Export Credit Guarantee Facility. The program, backed by the European Investment Fund (EIF), is designed to support companies exporting to Ukraine amid the ongoing war and the country’s reconstruction efforts.
Exim Banca Romaneasca becomes one of ten national export credit agencies across the EU participating in the facility, alongside counterparts in Denmark, Finland, France, Germany, Italy, Latvia, Slovakia, Slovenia, and Spain.
The initiative offers export guarantees to small and medium-sized enterprises (SMEs) and mid-sized companies doing business with Ukraine, with a total of EUR 300 million in EIF backing. Romania’s share amounts to EUR 43.75 million, which is expected to benefit around 25 exporters, according to the press release.
“This is a real boost for Ukraine’s recovery, a win-win solution for its recovery and the functioning of its economy. It enables EU companies to keep trading and investing in Ukraine when it matters most,” said EIB Group president Nadia Calviño.
The facility is intended to mitigate the financial risks faced by exporters and encourage the continued flow of goods and services to Ukraine, including machinery, construction materials, and advanced technologies. It also aims to deepen Ukraine’s integration into the European single market as part of its EU accession process.
“By participating in this European initiative, Exim Banca Romaneasca reaffirms its commitment to supporting Romanian companies that wish to contribute to Ukraine’s reconstruction,” said Exim Banca Romaneasca Executive President Traian Halalai. “We strongly believe that the support provided through this financial mechanism will facilitate exporters’ access to challenging yet essential market, while also contributing to the stimulation of regional economic development.”
Ukraine welcomed the EU initiative, viewing it as a vital part of its broader recovery strategy.
“Ukraine’s recovery depends not only on international aid, but on restoring and expanding real economic partnerships – partnerships based on trade, industrial cooperation, and shared long-term interests,” said Yulia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.
The program was launched in mid-2024 and quickly attracted interest from exporters across the EU. Three more EU Member States are expected to join soon, bringing further support to Ukraine’s embattled economy.
irina.marica@romania-insider.com
(Photo source: Lskonogaleksey/Dreamstime.com)
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