Austria has decided to establish a special fund of 500 million euros to support exports and investments in Ukraine, according to the Austrian Ministry of Finance, Report informs referring to RBC-Ukraine.
The department noted that Russian aggression in Ukraine makes any business with Ukrainian companies extremely risky for Austrian exporters and investors. Therefore, the Ministry of Finance has created conditions to support Austrian exports to Ukraine.
"The support is provided through a special risk-oriented mechanism for Ukraine. It is envisaged that 500 million euros will be allocated over the next 5 years to cover business in Ukraine," the Ministry of Finance writes.
Around 100 million euros per year will be allocated to the development of new businesses, which will also enable Austrian exporters to help rebuild Ukraine. Finance Minister Magnus Brunner stated that in addition to the domestic economy, the Ukrainian population and economy, in particular, benefit from Austrian export support as Austria actively contributes to the country's reconstruction.