Ukrainian reconstruction projects will receive additional opportunities to attract Spanish financing. The additional financing of €570 million will be directed to support investments, the supply of equipment, and the participation of Spanish companies in the restoration of the Ukrainian economy.
Following the fifth meeting of the Intergovernmental Ukrainian-Spanish Commission for Economic and Industrial Cooperation, the parties agreed to provide financial and insurance support totaling €570 million.
As part of the agreements:
- Spanish export credit insurance agency Cesce will increase the limit of insurance coverage for risks related to operations in Ukraine to €250 million. The insurance coverage will help Spanish companies supply equipment, technologies, and services to Ukraine, as well as participate in investment projects;
- Development financial institution COFIDES will manage a €100 million credit line for investments by Spanish companies in the Ukrainian economy;
- The state Fund for the Internationalization of Spanish Companies (FIEM) provides up to 200 million euros in funding for Ukraine. The instrument provides up to 100 million euros in repayable financing and up to 100 million euros in grant support for projects implemented by Spanish companies.
Ukraine and Spain also signed a Joint Declaration of Intent to Support Industrial Recovery and Sustainability. The document provides for the development of cooperation between companies from the two countries, the supply of industrial equipment and technologies, and support for Ukrainian manufacturers and their integration into European production chains.
