France to insure war risks of its companies intending to invest in Ukraine
Pravda Ukraine
The French state-owned insurance company Bpifrance Assurance Export will insure French companies ready to invest in Ukraine and its recovery without waiting for the war to end.
Source: press service of the Ukrainian Ministry of Economy
Details: The authority explained that any company operating under French law and making a long-term investment abroad in a new or existing company or any credit institution providing a bank loan to a foreign subsidiary is eligible for this investment insurance.
This protects investors or lending institutions from the risks of property damage or non-payment, non-transfer, expropriation or political violence.
“The insurance covers up to 95% of the loss of investor assets or receivables,” the Ukrainian Ministry of Economy said.
Furthermore, France pursues negotiations with its partners to support Ukraine’s economy and mobilise innovative financial instruments for Ukraine’s recovery.
“We have had many discussions and negotiations about France insuring its companies against war risks, and finally, we have the result of this hard work. The French Export Credit Agency has started to provide guarantees for companies interested in rebuilding Ukraine,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy.
The minister said the French commercial sector is showing more interest in working in Ukraine. Hence, this decision is a message to French companies to be more active in entering the Ukrainian market.
Background: The World Bank’s Multilateral Investment Guarantee Agency (MIGA) has provided the first investment guarantees for private investors in Ukraine.
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