Italy just became the tenth EU country to back a program that helps businesses keep trading with Ukraine during the war, according to a press release from the European Investment Fund (EIF). Italy’s export credit agency SACE signed up for the InvestEU Ukraine Export Credit Guarantee Facility and gets €24 million from the program’s €300 million pot.
About 90 Italian companies will benefit from this safety net. The whole thing started in mid-2024 and has already grabbed attention from EU businesses looking to trade with Ukraine. EIB Group President Nadia Calviño says it’s “a real boost for Ukraine’s recovery” that helps EU companies stay in the game when Ukraine needs them most.
Here’s how it works: national export agencies team up with the EIF to guarantee loans for small and medium companies that export to Ukraine. This cuts the risk for businesses that want to help but worry about getting paid during a war. Companies can keep their existing Ukrainian customers and even find new ones without sweating the financial dangers.
Nine other countries are already in: Denmark, Finland, France, Germany, Latvia, Romania, Slovakia, Slovenia, and Spain. Three more are expected to join soon. The focus is on stuff Ukraine desperately needs—machinery, construction materials, high-tech equipment, and services that keep the economy running. These aren’t just regular business deals. They’re helping Ukraine survive and rebuild while fighting off Russia.
The timing matters. Ukraine’s economy is hanging by a thread, and EU businesses want to help but can’t afford to lose money on unpaid bills. This guarantee program fixes that problem by sharing the risk among EU countries.
It’s a smart move that turns good intentions into real economic support. Instead of just sending aid money, EU countries are making it safer for their own businesses to trade with Ukraine. Everyone wins—Ukrainian companies get the goods they need, EU exporters keep their markets, and taxpayers don’t foot a massive bill.
