Ukrainian reconstruction projects will gain more opportunities to attract Spanish financing, while Spanish companies will be able to invest in Ukraine and insure the associated risks. Following the fifth meeting of the Intergovernmental Ukrainian-Spanish Commission on Economic and Industrial Cooperation, the parties reached agreements on financial and insurance support totalling €570 million and signed a number of documents on the development of economic and industrial cooperation.

The meeting was held by the Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev and the First Deputy Prime Minister, Minister of Economy, Trade and Enterprise of Spain Carlos Cuerpo. A delegation of 50 Spanish companies arrived in Kyiv together with Carlos Cuerpo. Over the course of the two-day programme, government and business representatives discussed investment projects and the participation of Spanish companies in Ukraine’s reconstruction.

“Spain is consistently translating political support for Ukraine into practical solutions for business and reconstruction. The combined volume of financing and insurance coverage in these areas will be increased to €570 million. Now our task is to match these opportunities with specific Ukrainian projects and to establish a long-term partnership between the companies of our countries,” noted the Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev.

Following the meeting, the parties agreed that:

• The Spanish state export credit insurance agency Cesce is increasing its risk coverage limit for operations in Ukraine to €250 million. The insurance coverage will help Spanish companies supply equipment, technologies and services to Ukraine, as well as take part in investment projects.
• The Spanish development finance institution COFIDES will manage a new credit line worth €100 million. It will support investment projects of the Spanish private sector in key sectors of the Ukrainian economy.
• The State Fund for the Internationalisation of Spanish Companies (FIEM) is providing financing for Ukraine of up to €200 million. The instrument envisages up to €100 million in repayable financing and up to €100 million in grant support for projects implemented by Spanish companies.

Oleksii Sobolev and Carlos Cuerpo also signed a Joint Declaration of Intent on supporting the industrial recovery and resilience of Ukraine. The document establishes the intention of the two countries to deepen cooperation within the framework of the initiative of the President of Ukraine Volodymyr Zelenskyy “Industrial Ramstein”, aimed at the recovery, modernisation and enhanced resilience of Ukrainian industry.

The document reflects the parties’ shared vision regarding partnership between the companies of the two countries, facilitating the supply of industrial equipment, technologies and related services, as well as support for projects to increase the competitiveness of Ukrainian producers and their integration into European value chains.

As part of the Commission’s meeting, a Spanish-Ukrainian Business Forum took place, during which financial institutions, industrial associations and enterprises of the two countries reached the following agreements:

The Spanish state bank Instituto de Crédito Oficial and Raiffeisen Bank Ukraine concluded a Memorandum of Understanding and signed a financial agreement;

The Ukrainian Research Institute of Carriage Building and the Spanish company Ibertest signed a Memorandum of Understanding on cooperation in the field of railway equipment testing;

The Spanish industrial association SERCOBE and the Federation of Employers of Ukraine concluded a Memorandum of Cooperation, which will facilitate the development of partnership between Ukrainian and Spanish industrial companies.

Джерело: https://www.kmu.gov.ua