ECA insures Oschadbank's loan to Zaporizhia non-ferrous alloys plant for EUR 3 mln.

State-owned Oschadbank and the Export Credit Agency (ECA) entered into an agreement on Wednesday to insure a credit line for the Zaporizhia Factory of Non-Ferrous Alloys for the purpose of fulfilling a foreign economic contract – the export of products to the EU countries, CEO of Oschadbank Serhiy Naumov said.

"This is a record amount for the agency – EUR 3 million," he said on the Telegram channel, adding that ECA insures contracts for 85% of the face value.

Naumov recalled that trade finance is a traditional product of Oschadbank for large businesses, which is now especially relevant, since during the war, most foreign partners require prepayment for goods.

According to him, Oschadbank’s opportunities here are quite significant due to the allocated limits of the European Bank for Reconstruction and Development (EBRD).

Zaporizhia Factory of Non-Ferrous Alloys LLC, according to the information on the website, includes production processes for the manufacture of copper current-carrying core, copper wire, copper and aluminum cables (power, armored, shielded, fire-resistant, installation wires and cords with voltage up to 1 kV) and label products.

Its products are supplied in addition to Ukraine to Kazakhstan, Moldova, Great Britain, the Netherlands, Germany, Austria, Croatia, Turkey, the Czech Republic, Poland, Romania, Greece, as well as Georgia, China and India.