AUB News

AUB Export Support Committee Established: Banks and ECA Join Efforts to Develop Ukraine's Export Potential

On May 27, representatives of more than 15 leading Ukrainian banks took part in the first meeting of the newly established Committee of the Association of Ukrainian Banks on Export Support. The new platform is intended to become not only a professional platform for exchanging experience, but also an effective tool for implementing changes in the system of financing export-oriented businesses — an especially important sector of the economy during martial law.

At the beginning of the event, Ruslan Gashev, Chairman of the Board of PJSC Export Credit Agency (ECA), and Natalia Butkova-Vitvitska, Member of the Board of JSC Oschadbank, were elected as co-chairs of the AUB Committee on Export Support. As noted by AUB President Andriy Dubas, both leaders have extensive expertise in financing enterprises operating in foreign markets, and therefore will be able to effectively coordinate the work of the Committee, so their leadership received unanimous support from the meeting participants.

In his speech, Ruslan Gashev outlined in detail how ECA promotes the development of Ukrainian export-oriented business through bank credit insurance instruments. In particular, the Agency can cover up to 85% of the amount of a foreign economic contract, which significantly reduces risks for banks and motivates them to more actively lend to exporters. ECA’s insurance policy, which works on the all-risk principle, is recognized by banks as acceptable security, even in the absence of traditional collateral. For small and medium-sized businesses, which often lack sufficient collateral, this opens up a real opportunity to access the necessary financing.

The effectiveness of ESA's activities is confirmed by specific results as of the end of the first quarter of 2025:

  • Exports were supported for over UAH 21.41 billion.
  • Loans were issued for UAH 2.55 billion.
  • 135 Ukrainian exporters used the Agency's support.
  • 242 deals were implemented with the participation of the ECA.

These indicators indicate the scale, potential and versatile tools of state support for exporters, as well as the growing trust from the banking system. Another important achievement was the ECA's membership in the Berne Union, an international community of export credit agencies and investment risk insurers, since 2024.

During a lively discussion, the participants of the meeting discussed the systemic limitations that hinder the further development of the support program. In particular, the need to expand the agency's "shoulder" of responsibility, which currently operates at a ratio of 1:1 to equity (while global practice requires at least 8:1). The issue of the insufficient amount of ECA's capital (currently just over UAH 2 billion), which, according to forecasts, should be increased to UAH 7 billion, was also raised. The voiced proposals concerned, in particular, changes to the Budget Code, which would allow for the provision of state guarantees under ECA insurance contracts.
Attention was also paid to currency control: bankers drew attention to the need to regulate situations where the agency compensates for the exporter's losses, and currency supervision continues to record "underdelivery".
The participants of the meeting unanimously emphasized: micro, small and medium-sized businesses (MSMEs) are a segment that requires priority support. It is these enterprises that provide the most jobs, are flexible to change, are ready to develop niche foreign markets, but at the same time face limited access to bank financing. The situation is especially difficult in front-line regions, where the lack of collateral, uncertainty and logistical barriers block export potential. ECA instruments, covering military-political risks, have become almost the only opportunity for such companies to obtain financing and enter foreign markets.
A separate part of the discussion concerned the marketing and communication direction of work. Bankers proposed to resume the regional information tours of the ECA, which had previously demonstrated high efficiency, as well as to strengthen the agency’s presence in the public space — in particular, through the media, round tables, forums, and educational initiatives for bank employees.

President of the Association of Ukrainian Banks Andriy Dubas emphasized the extreme importance of exports for the Ukrainian economy, especially in the context of martial law, and the significant potential of bank lending to businesses exporting products abroad. He assured the Association of ECA’s full support for its initiatives, in particular in promoting the Agency’s capabilities in insurance, lending, and guarantee provision. The need to provide up-to-date information about these opportunities to regional offices of Ukrainian banks was also emphasized in order to maximize the reach and availability of support tools for exporters throughout the country.
Summing up the meeting, all participants of the Committee noted the importance and strategic need for lending to export-oriented businesses to strengthen the national economy. The bankers expressed their gratitude to the ECA for the real and effective cases of cooperation that are already demonstrating positive results. It was emphasized that this direction is strategically important during martial law and will gain even greater importance and significance during the post-war reconstruction of Ukraine.
The AUB Committee on Export Support promises to become a key platform for the development and coordination of efforts in this vital area for the country.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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