Spain will allocate 570 million euros for reconstruction and investments in Ukraine
Фото: Pixabay
Spain will increase financial and insurance support for projects in Ukraine to 570 million euros. The parties reached the relevant agreements following the fifth meeting of the Intergovernmental Ukrainian-Spanish Commission on Economic and Industrial Cooperation.
This was reported by the Ministry of Economy, Environment and Agriculture of Ukraine.
The meeting was held by the Minister of Economy, Environment and Agriculture of Ukraine Oleksiy Sobolev and the First Deputy Prime Minister, Minister of Economy, Trade and Entrepreneurship of Spain Carlos Cuerpo. He was accompanied by a delegation of 50 Spanish companies who arrived in Kyiv to discuss the possibilities of participating in the reconstruction of Ukraine and the implementation of investment projects.
According to Sobolev, Spain is translating political support for Ukraine into practical solutions for business and the country’s recovery.
“The total amount of financing and insurance coverage in these areas will be increased to 570 million euros. Now our task is to combine these opportunities with specific Ukrainian projects and establish a long-term partnership between companies from our countries,” the minister noted.
As a result of the meeting, the parties agreed on a number of financial support instruments.
In particular, the Spanish state export credit insurance agency Cesce will increase the limit of insurance coverage of risks for operations in Ukraine to 250 million euros. This will allow Spanish companies to more actively supply equipment, technologies and services to Ukraine, as well as participate in investment projects.
In addition, the Spanish development finance institution COFIDES will manage a new €100 million credit line to support Spanish private sector investments in key sectors of the Ukrainian economy.
The state Fund for the Internationalization of Spanish Companies (FIEM) will also provide Ukraine with funding of up to 200 million euros. Of this amount, up to 100 million euros is provided as repayable financing, and up to 100 million euros in the form of grant support for projects implemented by Spanish companies.
During the meeting, Oleksiy Sobolev and Carlos Cuerpo also signed a Joint Declaration of Intent to Support Ukraine’s Industrial Recovery and Resilience. The document provides for deepening cooperation within the framework of the initiative of the President of Ukraine Volodymyr Zelenskyy “Industrial Ramstein”, aimed at modernizing Ukrainian industry and integrating Ukrainian manufacturers into European production chains.
In addition, within the framework of the Spanish-Ukrainian Business Forum, a number of memorandums of cooperation were signed between financial institutions, industrial associations, and enterprises of the two countries.
It was previously reported that Sweden will allocate $108 million to the American PURL initiative, under which the Ukrainian Defense Forces purchase weapons from the United States .
Also follow “Pryamim” on Facebook , X , Telegram , and Instagram.