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Ukraine and Spain have agreed to expand financial and insurance support for Ukrainian reconstruction projects to €570 million, following the fifth meeting of the Ukrainian-Spanish Intergovernmental Commission on Economic and Industrial Cooperation, UATV English reports.
According to Ukraine’s relevant ministry, the package includes financial instruments designed to attract Spanish investment and increase the participation of Spanish companies in Ukraine’s reconstruction.
As part of the agreement, Spain’s state export credit agency Cesce will raise its risk coverage limit for operations in Ukraine to €250 million, enabling Spanish businesses to increase exports of equipment, technologies, and services while participating in investment projects.
Spain’s development finance institution COFIDES will manage a new €100 million credit facility to support private-sector investment projects in Ukraine.
In addition, Spain’s Fund for the Internationalization of Spanish Companies (FIEM) will provide up to €200 million in financing, including up to €100 million in repayable funding and up to €100 million in grants for projects involving Spanish companies.
The two sides also signed a Joint Declaration of Intent on supporting Ukraine’s industrial recovery and resilience. The document envisages deeper cooperation within the “Industrial Ramstein” initiative, expanded partnerships between Ukrainian and Spanish companies, increased supplies of industrial equipment and technologies, and the integration of Ukrainian manufacturers into European value chains.
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