Peculiarities of Implementation Export Credit Agency in Ukraine: Investment Aspects
International and Public Affairs
Volume 2, Issue 1, March 2018, Pages: 28-38
Received: Mar. 5, 2018; Accepted: Apr. 2, 2018; Published: May 9, 2018
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Author
Kornieieva Iuliia, Department of Macroeconomic Regulation & International Economic Relations, Academy of Financial Management, Kyiv, Ukraine
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Abstract
This study examines the role of the ECA as an important element in the system of attracting investment resources. The functioning of the ECA is seen as an institutional stimulus for improving investment climate, promoting export, increasing the competitiveness of the national economy and developing export potential in both the private and public sectors. The author examines the opportunities that ECA creates in financing capital investment, which is especially important for state-owned companies in Ukraine. The author emphasizes the importance of ECA in creating conditions for attracting financial resources on favourable terms for state corporations which seek to purchase foreign expensive equipment, that do not have analogues on the domestic market. Major objective of this study is to develop recommendations concerning creation prerequisites for practical implementation of ECA in Ukraine. The author proposed new financial instruments which with support from international donors will contribute to the effective activity of ECA in Ukraine. These include the instrument of the provision of guarantees to the national EСA for the entry into international capital markets - ECA's emission guarantees; guarantees of support of EСA`S projects that will facilitate the cooperation with foreign financial institutions; as well as financial instruments that will perform the compensatory function of equalizing market interest rates for large projects and for long periods of time. The importance of establishing the register of Ukrainian state-owned enterprises which will be included into the ECA`s program in cooperation with IMF, WB, EBRD and other IFOs is emphasized.
Keywords
Export Credit Agency, International Financial Organization, ECA's Emission Guarantee, Guarantee for Support of EСA`s Projects, Investment
To cite this article
Kornieieva Iuliia, Peculiarities of Implementation Export Credit Agency in Ukraine: Investment Aspects, International and Public Affairs. Vol. 2, No. 1, 2018, pp. 28-38. doi: 10.11648/j.ipa.20180201.14
Copyright
Copyright © 2018 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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