Slovenian business support experience for Ukraine. Results of the online discussion Expert Talks
On Thursday, October 22, the fifth online event from the Expert Talks series was held on the topic: "Insuring or crediting: the experience of the Slovenian SID Bank in providing support for businesses", organized by the Ukrainian Export Promotion Office together with the Ukrainian Business and Trade Association (UBTA) , and with the Embassy of Slovenia in Ukraine.
The export credit agency in both countries plays an important role in supporting business. And affordable financing is among the top 5 priorities of export-oriented business in Ukraine. With the beginning of the pandemic, the issue of guarantees and trust of foreign partners was added here. Therefore, the topic of crediting and insurance is extremely relevant. This was stated by Tomaž Mencin, Ambassador of the Republic of Slovenia to Ukraine, Iztok Grmek, Ambassador, Director General of the Department of Economic and Public Diplomacy of the Ministry of Foreign Affairs of the Republic of Slovenia and Tetyana Miskova, Director of the Export Promotion Office of Ukraine.
According to Nazar Bobitski, moderator of the meeting and Director of the Brussels Office of the UBTA, 89% of Slovenia's GDP comes from exports, and the positive trade balance is 5.6% of GDP, therefore, the Slovenian "success story" and the experience of SID Bank, which performs the functions of export credit agency of Slovenia, has practical value.
Speaking about financing services that helped Slovenian business during the difficult period of the pandemic, SID Bank CEO Sašo Keleman noted that the bank's activities added €1 billion to the country's GDP and the same amount to exports in 2019.
Since the start of the pandemic, the bank has moved from development activities to anti-crisis measures, providing € 400 million in additional direct financing and another € 600 million in financing through commercial banks, supporting almost 400 Slovenian companies.
More - in the video record of the discussion