EU to support Danish companies working in Ukraine, first EUR 20M agreement signed

That is according to the Ministry of Economy of Ukraine, as reported by Ukrinform.

This agreement is the first of 13 similar deals being prepared across EU Member States, aimed at supporting European business cooperation with Ukraine and strengthening the country’s economic integration with the European Union. The overall export credit program is set to provide approximately EUR 300 million in guarantees to support European small and medium-sized enterprises (SMEs).

As a result of this signed guarantee, around 40 Danish companies will be able to expand their operations in the Ukrainian market.

In 2024, exports from the European Union to Ukraine totaled EUR 42.8 billion, marking a 9.4% increase compared to 2023, according to Eurostat.

"This proves that Ukraine remains a stable and important market for European goods—from machinery and transport to pharmaceuticals and clean technologies," said Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine.

She emphasized that the export credit guarantee mechanism helps mitigate risks for European companies, providing businesses with greater confidence to collaborate with Ukrainian partners.

As reported, the EIF guarantee mechanism is being implemented under the “export credits” program with the support of the European Commission's InvestEU initiative, which mobilizes public and private investment to provide long-term EU financing.

Within weeks of its launch in July 2024, the program received an overwhelming number of applications, far exceeding the available funding—highlighting strong interest from European businesses.

EIFO, Denmark’s national promotional bank and export credit agency, operates in more than 100 countries, with a transaction volume exceeding EUR 20 billion.