Austria creates €500 million fund to support investment in Ukraine [Yahoo! Finance]
RAIFFEISEN BK IN UNSP/ADR (RAIFY)
NASDAQ:AMEX Investor Relations:
rbinternational.com/ir
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Source: Yahoo! Finance
Source: European Pravda, citing the Austrian Foreign Ministry The fund was established by the Austrian Ministry of Finance and the Austrian export credit agency OeKB. Raising funds from international financial institutions could even increase the amount of funding to one billion euros, the message reads. Approximately €100 million per year is earmarked for new business. This will also open up opportunities for Austrian exporters in the reconstruction of Ukraine. It is reported that within the existing and tested export promotion procedure, the Austrian Ministry of Finance already facilitates export deals worth €3-5 million in Ukraine with payment terms of up to three years through OeKB. Since funds are limited and the goal is to achieve broad risk diversification, particularly in terms of supported sectors, small and medium-sized deals in the public sector based on state guarantees will be possible in the first phase. "This will enable us to make vital investments for Ukr
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