Exim Banca Romaneasca joined the InvestEU Ukraine Export Credit Guarantee Facility, a joint initiative of the European Commission and the European Investment fund (EIF), the European Investment Bank (EIB) announced on Friday.

Under the facility, national export credit agencies in the EU offer guarantees to small and medium-sized enterprises (SMEs) and Mid-Caps exporting to Ukraine. The national guarantees are in turn backed by the EIF, which is part of the European Investment Bank (EIB) Group.

Romania is participating in the initiative along with nine other EU countries: Denmark, Finland, France, Germany, Italy, Latvia, Slovakia, Slovenia and Spain. The goal is to encourage EU exports to Ukraine of goods such as machinery, construction materials and advanced technologies as well as services that are critical for the country's economy and reconstruction amid Russia's war.

'This is a real boost for Ukraine's recovery, a win-win solution for its recovery and 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 Ukraine Export Credit Guarantee Facility is providing a total of EUR 300 million in EIF guarantees for the participating national export credit agencies.

In addition to the ten participating EU countries, a further three Member States that have yet to be announced are scheduled to join the facility. It is projected to benefit more than 550 EU exporters including 25 in Romania.

'By participating in this European initiative, Exim Banca Romaneasca reaffirms its commitment to supporting Romanian companies that wish to contribute to Ukraine's reconstruction. 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, ' said Exim Banca Romaneasca Executive President Traian Halalai.

The Ukraine Export Credit Guarantee Facility advances Ukrainian efforts to integrate into the European single market and to become a member of the EU. Started in mid-2024, the facility generated immediate interest from EU businesses, ensuring demand for the full EUR 300 million in EIF backing. The EIF support helps businesses to maintain existing exports to Ukraine and encourages new EU trade ties with the country.

The European Investment Fund is part of the EIB Group. It supports Europe's SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible.

With the InvestEU mandate, European institutions - led by European Commission and EIB Group - aim to mobilise more than EUR 372 billion of public and private investments to finance sustainable investment, innovation and job creation throughout Europe over the period 2021-2027.

Exim Banca Romaneasca operates in the area of state insurance, under a mandate from the Romanian state, being the only specialised financial institution in Romania with a mandate to promote exports, in line with the standards of the OECD Arrangement on Officially Supported Export Credits. AGERPRES (RO - writing by: Constantin Balaban; EN - writing by: Adina Panaitescu)