State Property Fund planning to introduce war risk insurance for privatization objects

The relevant statement was made by Ukrainian State Property Fund Head Vitalii Koval in an interview with Liga.net, an Ukrinform correspondent reports.

“We are actively working to introduce war risk insurance for privatization objects. The main task is to obtain support from the Multilateral Investment Guarantee Agency (MIGA),” Koval told.

In his words, the state understands the importance of the comprehensive protection of investments. Hence, the Ukrainian State Property Fund is also addressing international insurance companies with a proposal to expand export insurance instruments, so that they cover war risks.

“We encourage foreign businesses to show interest in war risk insurance in Ukraine by contacting their insurance agencies with relevant inquiries. This will help demonstrate to international insurers, such as the Czech Republic’s EGAP, Japan’s JICA, Germany’s export credit agencies (Euler Hermes), France’s Bpifrance Assurance Export, Italy’s SACE, the United Kingdom’s UK Export Finance, and Sweden’s EKN, that there is a real demand for such services, and will contribute to the intensification of their work in Ukraine,” Koval explained.

A reminder that Ukraine’s Export Credit Agency (ECA) is starting to accept applications for investment insurance against military and political risks. The ECA will offer two insurance products: direct investment insurance for investors and investment loan insurance for banks.