Here’s a professional English translation (structure and meaning preserved, lightly edited for clarity and consistency):

The EIB and the EU cover up to 70% of war-risk exposure and lower financing costs. Learn how to be among the first to benefit from the programme.

The European Commission and the EIB Group have launched a €300 million Export Credit Guarantee Facility (ECGF) to insure export contracts of European companies with Ukrainian buyers. The first deal—a €20 million counter-guarantee for the Danish agency EIFO—was signed on 5 June 2025. The mechanism covers up to 70% of war and commercial risks, reducing the cost of financing and opening access for Ukrainian businesses to equipment, IT solutions, and green infrastructure. Alstera prepares clients to participate end-to-end: from contract structuring to political-risk insurance and long-term credit lines.

1 Geoeconomic context
In 2024, EU→Ukraine goods trade rose to €43 billion, even as the average war-risk premium on supply-finance exceeded 6 percentage points. The need for a protective mechanism became evident—and in June 2024 the EIB and the European Commission announced the ECGF under the InvestEU – SME Competitiveness window. The goal is to support EU SMEs supplying machinery, technology, and services to Ukraine, despite limited risk appetite among private insurers.

2 How the Export Credit Guarantee Facility works
• Guarantee pool — €300 million, 100% backed by the EU and the EIB
• Operating instrument — EIF counter-guarantees in favour of national ECAs
• Risk coverage — up to 70% of principal plus interest
• Tenor — up to 10 years (capex), up to 2 years (working capital)
• Eligible goods — machinery, RES equipment, agri-tech, IT services
• Pilot phase — 13 transactions in 10 Member States by end-2025

The guarantee is not a direct loan; it reduces risk weights for commercial banks and state ECAs, so financing rates approach pre-war levels of EURIBOR + 2.0–2.5%.

3 The Danish first mover: a model for other ECAs
On 5 June 2025, the European Investment Fund and Denmark’s EIFO announced the first €20 million counter-guarantee—described by Reuters as the scheme’s “launch moment”. The deal enables up to 40 Danish companies to sell industrial equipment and IT services to Ukraine on deferred payment terms of up to 24 months.

Why Denmark?
• Low NPL ratios in EIFO’s Eastern Europe portfolio
• Active political backing from Denmark’s MFA (Ukraine Fund)
• Green transition focus: ~60% of potential projects in bioenergy and energy efficiency

Next in line: Euler Hermes (Germany), KUKE (Poland), and OeKB (Austria). According to euneighbourseast.eu, the total pipeline exceeds €120 million, with signings expected by Q4 2025.

4 Financial and tax aspects for the parties

4.1 EU exporter
• Lender: a commercial bank or an ECA-funded buyer’s credit
• Pricing: EURIBOR + 2.25% (versus >8% without a guarantee)
• Premium: 0.5–1.2% p.a. of the guaranteed amount (sector-dependent)
• Accounting: the guarantee premium is capitalised as a financing cost; VAT is reclaimable in the exporter’s jurisdiction

4.2 Ukrainian importer
• Financing currency: EUR; option to convert to UAH via the NBU swap line for up to 70% of the contract value
• Down payment: 15% (minimum under the OECD Consensus)
• Withholding tax on interest: 5% (DK–UA double-tax treaty)
• ESG covenants: provide an environmental screening (IFC Performance Standards) and a certificate confirming no mechanical equipment originates from sanctioned countries

5 Alstera’s step-by-step process

Product analysis — confirm the item is on the eligible-goods list; prepare a technical dossier annexed to the contract. (1 week)

ECA approach letter — via Alstera, submit an Indicative Application to the national ECA or a partner bank. (2 weeks)

Due diligence — KYC/AML and supply-chain checks; Alstera arranges legal and sanctions screening. (3–4 weeks)

Financing structure — agree the repayment schedule, choose currency, fix the margin. (1 week)

Signing / shipment — execute the contract, guarantee, and insurance policy; monitor performance via the ECA export portal. (Immediate)

6 Strategic market impact
• Lower war-risk premium. If average supplier’s-credit pricing for Ukraine is 9–11%, the ECGF can reduce the all-in cost to ~4–5%.
• Localisation. Contracts may include a “local value-added ≥ 20%” clause, encouraging the creation of service hubs in Ukraine.
• Co-investment. For contracts >€20 million, mixed financing is possible: 70% ECGF + 30% EU–Ukraine Facility grant, lifting IRRs for green-energy projects to ~18%.
• Tax incentives. Draft law No. 11111 (second reading, May 2025) proposes a 10-year corporate-income-tax relief for imported equipment used in “green industry”.

7 Alstera recommendations
• Reserve limits proactively. The €300 million pool could be fully allocated within 12 months; early applications raise the odds of approval.
• Form consortia. Bundled projects (e.g., elevator + biogas + IT/SCADA) clear screening faster by diversifying risk.
• Prepare an ESG passport. Verified Scope 1/2 data and a basic climate-risk assessment can shorten bank review by 15–20 days.
• Add FX hedging. Lock EUR/UAH via NDFs or knock-in/knock-out options to protect margins at ±5% volatility.
• Leverage grants. Check eligibility for the EU Innovation Fund or national green subsidies—this lowers leverage and improves DSCR for lenders.

This article was prepared in part using materials from eib.org, reuters.com, and euneighbourseast.eu.