Polish President Andrzej Duda has signed an amendment to the law on export insurance, which will allow the Polish state-owned KUKE Insurance Corporation to provide assistance to private businesses that are willing to invest in Ukraine.
This was reported by the Ministry of Economy of Ukraine.
The law is the basis of the program for the reconstruction of Ukraine with the participation of Polish business, which provides for secure trade with Ukraine, support for investments of Polish companies and support for Ukraine’s development.
The program includes three points:
- Secure trade with Ukraine (insurance covers a wide range of risks, in particular, protects Polish companies from losses caused by non-payment for goods delivered or services rendered).
- Support for investments of Polish companies (assistance to entrepreneurs in financing investments realized in Poland for export to Ukraine and beyond). As well as those investments that will be realized directly in Ukraine)
- Support for the development of Ukraine (providing financing for investment projects implemented by Polish or foreign entrepreneurs for private and public investors from Ukraine).
New solutions include reinsurance by other insurers. In cases where the risk is above average or if it is impossible to obtain reinsurance in the commercial market. This will mainly apply to reinsurance of transportation risks with commercial insurers (including hull and third-party liability insurance). This will allow Polish entrepreneurs to carry out transportation to Ukraine and participate in the reconstruction process.
