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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 5 sources · 1 days · First seen · Last updated
Financial support for Ukraine economic resilience
Overview
Financial institutions are expanding insurance and liquidity support to mitigate the economic impact of the conflict in Ukraine. The Ukraine Recovery and Reconstruction Guarantee Facility (URGF), an initiative involving the European Bank for Reconstruction and Development (EBRD) and Aon, is increasing its capacity from €110 million to €150 million due to high demand.
This expanded war-risk insurance, which includes participation from Vienna Insurance Group subsidiary USG, provides reinsurance to help businesses manage risks. The updated coverage now extends to the transport and storage of gas-related assets and goods in intermediate storage, supplementing existing protections for rail, motor vehicles, and inland freight.
In addition to insurance, the EBRD is providing direct liquidity support. This includes a modification to a €180 million loan for the state railway operator, Ukrzaliznytsia, where up to €130 million is being redirected toward urgent needs such as infrastructure repair and the maintenance of passenger and freight services.
Entities
European Bank for Reconstruction and Development · Aon · European Union · Ukraine · Ukrzaliznytsia
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The EBRD is increasing the capacity of its war-risk insurance scheme for Ukrainian businesses from €110 million to €150 million.
- [● 2 SOURCES] The Ukraine Recovery and Reconstruction Guarantee Facility (URGF) will expand coverage to include the transport and storage of gas-related assets and goods in warehouses.
- [● 2 SOURCES] The URGF mechanism is managed in collaboration with the insurance broker Aon.
- [● 2 SOURCES] The insurance scheme guarantees global reinsurer MS Amlin against war-related losses.
- [● 2 SOURCES] Two new insurers, Universalna and USG, have joined the war-risk insurance scheme.
- [● 2 SOURCES] The additional insurance capacity is backed by the European Union's Ukraine Investment Framework.
- [○ 1 SOURCE] The EBRD approved repurposing up to €130 million of a previously allocated €180 million loan for Ukrzaliznytsia to provide liquidity and infrastructure repair.
Timeline
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[INTERNATIONAL] 3 sourcesEBRD expands war-risk insurance and liquidity support for Ukraine
The EBRD is increasing its war-risk insurance capacity for Ukrainian businesses to €150 million and repurposing €130 million in loan funds to support Ukrzaliznytsia's liquidity and infrastructure repairs.
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[BUSINESS] 2 sourcesVienna Insurance Group expands war risk insurance in Ukraine
Vienna Insurance Group subsidiary USG has joined the Ukraine Recovery and Reconstruction Guarantee Facility to expand war risk reinsurance capacity for Ukrainian businesses.
Sources
boerse-social.com · finanzen.at · kyivpost.com · rayhaber.com · upday.com