Funding & Financing

Germany’s development cooperation work has been supporting Ukraine in many sectors for several years now. The programme was adapted when the war began to meet the acute needs of the people in Ukraine. The current development policy emergency programme has a total volume of more than 122 million euros (as per 21 April 2022). The emergency programme is realised by GIZ and KfW Development bank through partners on site.

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The Federal Ministry for Economic Affairs and Climate Action is mainly active in two areas: firstly, in the area of energy policy as part of the energy partnership. This is of special importance bearing in mind the targeted Russian attacks on Ukraine’s energy infrastructure.

At the same time, the Ministry provides access to its foreign trade and investment promotion instruments (AWF), to facilitate the business activities of companies in Ukraine and, with an eye to the future, to support rebuilding Ukraine.

You can find information about what the Ministry has so far been able to provide in the way of support in order to help companies and state institutions on its website.

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The German federal government has created a set of measures to support companies impacted by the war in Ukraine. The legal basis in this case is mainly delivered by the Temporary Crisis Framework of the European Commission for state aid measures to support the economy in the context of the Ukraine war. The measures are still subject to state aid investigation and, if required, approval by the EU Commission.

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• Dual vocational training: Promoting vocational training in the area of the Green Economy with an overall runtime of 2018 to 2022. Contracting authorities are the Federal Ministry for Economic Affairs and Climate Action and the Swiss Agency for Development and Cooperation (SDC). Country: Republic of Moldova

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• Economic policy advice to the Moldovan government: Economic policy advice to the Moldovan government with a runtime of 2018 to 2022. Contracting authority is the Federal Ministry for Economic Affairs and Climate Action. Country: Republic of Moldova

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• Adapting economic development to climate change: Policy advice for climate-resilient economic development (CRED) with a runtime from 2019 to 2022. Contracting authority is the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety. Countries: Global, Kazakhstan, Viet Nam, Georgia

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• Promoting the private economy and vocational training in South Caucasus: Programme focusing on economic development: Private economic development component and vocational training in South Caucasus with a runtime from 2017 to 2024. Contracting authority is the Federal Ministry for Economic Affairs and Climate Action. Countries: Armenia, Azerbaijan, Georgia

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The KfW Special Programme UBR was set up for companies that are impacted by the Ukraine war or sanctions against Russia and Belarus. A promotional loan is used to support small and medium-sized businesses and freelancers who have been impacted by drops in revenue, interruptions in production, closed production sites or increased energy prices. Smaller or large loan amounts of up to 100 million euros per company or corporate group are possible. 

Further, the KfW provides a syndicated financing of up to 25 million euros also for larger companies. 

The KfW Special Programme UBR 2022 is limited until 31.12.2023.

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On behalf of the German federal government, the KfW signed a loan agreement to the amount of 150 million euros with the Ukrainian Finance Ministry to support Ukraine’s mid-sized sector and to cushion the consequences of war. The loan for 150 million euros is the final instalment of the untied financial loan from the federal government for Ukraine to a total amount of 500 million euros from the year 2015. The first two instalments were used in the past years to reinforce the Ukraine financial system and for energy supply (source).

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On the AGAPortal, companies can find regular online updates on the latest developments concerning Russia, Belarus and Ukraine, as well as on the implications for cover practice.

Export Cover - Hermes Cover

Coverage practice for more than 200 countries: In the country list or overview map, companies can find the relevant resolution for their export country. The OECD regularly assesses the country risk for each country based on factors such as political and economic stability, legal certainty or experience with repaying sovereign debt. Using a macroeconomic model, countries are classified into one of eight risk categories (0-7).

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Untied Loan Guarantees (UFK)

In the context of the Russian war of aggression on Ukraine, the importance of UFK guarantees as an instrument to support raw material and transformation projects has increased. UFK guarantees support the external financing of eligible raw materials projects abroad and secure the supply of raw materials to German industry. They protect lenders of raw materials projects abroad against economic and political credit default risks and are a central component of the German government's raw materials strategy.

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Investmen Guarantees

With its special program for investment guarantees, the Federal Republic offers German companies cover against political risks abroad. Even in times of war, investments in Ukraine can thus be protected. On behalf of the German government, the consulting firm PwC acts as the first point of contact for companies wishing to protect their investment against political risks in Ukraine.

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Since the beginning of the war in Ukraine, the EBRD (European Bank for Reconstruction and Development) has been actively involved in emergency relief and reconstruction in Ukraine. The EBRD particularly supports projects aimed at energy security and efficiency, financial sector development, and trade and infrastructure in Ukraine. Financing instruments  available are loans, equity participation (partial investment) and investment guarantees.

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