Carlos Cuerpo brings 570 million and half a hundred companies to Kyiv to enter into the reconstruction of Ukraine

The first vice-president, Carlos Cuerpo, has traveled to Kyiv with nearly fifty Spanish companies and a package of 570 million euros to facilitate their participation in the reconstruction of Ukraine. This is the largest Spanish business mission to the country since the beginning of the full-scale Russian invasion in February 2022.

The visit combines political support, public financing, and direct meetings with Ukrainian authorities and companies. Cuerpo participated in Ukraine's Statehood Day and presented four instruments aimed at reducing the risk faced by companies interested in working in a country that continues to be under Russian attacks.

The package brings together guarantees, credits, and financing for investments. Its objective is to protect Spanish operations, facilitate the entry of small and medium-sized enterprises, and direct resources towards projects identified as priorities by Kyiv.

More coverage against war risk

The main measure will be the expansion of coverage offered by Cesce to Spanish companies that export or develop projects in Ukraine. The limit increases from 30 to 250 million euros, more than eight times the amount available until now.

This guarantee allows for covering political, commercial, and extraordinary risks derived from the war. Cuerpo explained that this is one of the most demanded mechanisms by companies, especially by those that lack the capacity to assume the possible losses of an operation in Ukrainian territory.

Cofides will manage another line of up to 100 million euros for private Spanish investments that generate a direct benefit for Ukraine. Priority will be given to projects linked to defense, energy, infrastructure, transport, water management, and agro-industry.

The Official Credit Institute has also signed an agreement with Raiffeisen Bank Ukraine to open a line of 20 million euros aimed at small Ukrainian companies working on projects related to Spanish companies.

The other 200 million will come from the Fund for the Internationalization of the Company. The FIEM already finances four initiatives in Ukraine, including the preparation of systems that will allow air traffic to resume when security conditions make a gradual reopening of airspace possible.

A reconstruction valued at more than 500,000 million

The Spanish presence occurs as the main projects begin to be defined, although the end of the war is still far away. The World Bank, the European Commission, the United Nations, and the Ukrainian Government estimate that the country's recovery will require almost 588 billion dollars over the next decade, more than 500 billion euros.

The greatest needs are concentrated in transport, energy, and housing. It will also be necessary to rebuild hospitals, educational centers, water supply systems, agricultural farms, and digital infrastructures destroyed or damaged since 2022.

Spain seeks to gain presence in this process from its sectors with greater international capacity. The delegation sent to Kyiv includes companies in renewable energy, railway, defense, communications, digitalization, and agro-industry.

"Ukraine has a positive outlook ahead as it moves towards the European Union and the Single Market," defended Cuerpo, who presented investment in the country as a long-term operation linked to its future community integration.

Ukrainian aviation, one of the first projects

One of the agreements signed during the visit affects the recovery of the air navigation system. The Spanish consultancy ALG will work with UkSATSE, the Ukrainian public provider, to prepare the safe reestablishment of traffic management and communications at the country's main airport.

Indra has also closed an alliance with UkSATSE to evaluate the status of damaged infrastructure, identify necessary investments, and prepare the modernization of control, navigation, communications, and surveillance systems.

The future technology must comply with European standards to facilitate Ukraine's integration into the continental air network. The work will include radars, digital systems, cybersecurity, and professional training, although its implementation will depend on the evolution of the war and the conditions for reopening airspace.

Spain will also join the 'Industrial Ramstein' mechanism, created to facilitate the purchase of machinery and capital goods by Ukrainian companies affected by Russian attacks.

A permanent channel between Spanish and Ukrainian companies

The visit also served to establish the Spain-Ukraine Business Council, promoted by the Chamber of Commerce as a stable channel of contact between companies from the two countries.

The Spain-Ukraine Business Meeting brought together the Spanish delegation with authorities and representatives of the Ukrainian productive sector to discuss the protection of critical infrastructure, project financing, and the obstacles that still hinder investment.

The Government intends to agree with Kyiv on a list of priority actions for the coming months. In this way, public funds can be directed towards specific projects, and companies will know more precisely the needs of each sector.

Carlos Cuerpo will continue his agenda this Thursday in the Ukrainian capital with the fifth Spain-Ukraine Joint Commission, the main institutional forum for economic and commercial relations between both countries.