Bild: Man behind a newspapaer
June 22, 2023

AGA-Report Spezial

Cover policy

Export Credit Guarantees: Simplified procedures for Ukraine

As of now, a rule-based examination will take place in connection with the granting of Export Credit Guarantees for Ukraine in accordance with a decision taken by the so-called Federal Government’s Interministerial Committee. It replaces the strict case-by-case examination and the requirement of bank collateral.


This means that, with immediate effect, the granting of wholeturnover and revolving cover is possible without bank collateral provided that the risk involved is acceptable. Wholeturnover and revolving cover are frequently used by small and medium-sized enterprises, which will noticeably benefit from the change in the procedure. This will contribute to maintening and revitalising the commercial trade between Ukraine and Germany and thus will be instrumental to bring about the country’s economic recovery and reconstruction.


Federal Minister Robert Habeck: “We will intensify the economic relations with Ukraine in three areas. To begin with, we are supporting the country in safeguarding and developing its infrastructure in particular the energy supply. At the same time, we are encouraging German companies to expand the trade in goods with Ukraine and make Investment and Export Credit Guarantees available for this. The simplified procedures, which have just been adopted, will accelerate many things here. Thirdly, we are working on an economic perspective for the time after the war together with Ukraine and the allies. For this purpose, I visited Ukraine in March together with an economic delegation and met the Ukrainian president Volodymyr Zelenskyy.”


The economic relations between Ukraine and Germany are manifold, for example in the trade with agricultural products and with regard to investments of German companies in Ukraine. Guarantees of the Federal Republic for direct investments continue to be available. The Federal Government’s decision on Export Credit Guarantees for Ukraine now extends the possibilities for state support.


Details of the adjustments to the Export Credit Guarantees:

In order to support export-oriented small and medium-sized enterprises (SMEs), the special rule currently applicable to wholeturnover and revolving cover, according to which cover would only be granted if bank collateral had been provided, is cancelled. In future, new cover under Wholeturnover Policies and revolving guarantees will be available also without the provision of bank collateral provided that the risk is acceptable.


As of now, single transaction cover with private sector buyers will also be available without bank collateral being provided. This applies both to existing and new buyers in accordance with the credit assessment. Cover for transactions with public buyers may be granted on a case-by-case basis under a guarantee of the Ukrainian Ministry of Finance or the Ukrainian central bank.


After the Ukrainian national bank exempted loans covered under Export Credit Guarantees from its restrictions on foreign exchange transactions as at 16 June 2023, buyer credit cover has been available for single transactions. Minister Habeck had argued in favour of that during his visit to Ukraine in March.


With regard to wholeturnover and revolving cover for Ukraine, too, generalised rule-based procedures will replace the case-by-case examination.


These changes were adopted by the Federal Government’s Interministerial Committee. The Interministerial Committee is the government’s body that decides on the cover policy and applications for cover of export transactions under Export Credit Guarantees. In addition to the Federal Ministry for Economic Affairs and Climate Action, which has the lead function, the Federal Ministry of Finance (BMF), the Foreign Office (AA) and the Ministry for Economic Cooperation and Development (BMZ) are members of the committee.




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Dörte Meyn 

Revolvierende Deckungen (Sammeldeckungen)

Michael Geske

Einzeldeckungen | CIS

Film anschauen

Aufzeichnung Online-Event

Ukraine: Absicherungsmöglichkeiten mit den 
Exportkreditgarantien des Bundes vom 27.06.2023
Titelbild der Veranstaltung mit Portraits der Redner