Former ECA employees collectively turned to the prime minister and asked him to address the agency’s issues

KYIV. December 3 (Interfax-Ukraine) – Some members of the Export Credit Agency (ECA) team protest against the appointment of Ruslan Hashev as acting chairman of the agency’s board of directors, Hashev was fired from his post on November 3 this year, ECA board vice chairman Vyacheslav Popov said at a press conference at Interfax-Ukraine on Friday.

Popov recalled that the Ministry of Economy terminated Hashev’s powers due to the fact that during the year of working in this post, no measures were taken to stimulate Ukrainian exporting companies and increase exports. According to the ministry, in the first nine months of this year, the ECA concluded four insurance contracts and received income in the amount of UAH 116,000, or 1.8% of the expected indicator, while expenditure amounted to UAH 19.5 billion and exceeded the target by 17%.

“There were no results of Mr. Hashev’s attempts to introduce the portfolio method to insure bank loans. During the year, there was no fruitful cooperation with any of the Ukrainian banks. In addition, no new products were introduced to support exports during the year, “he said.

The vice-chairman of the board also said that seven agency employees have filed a resignation letter, disagreeing with the return of the former chief.

According to Popov, a letter from former ECA employees will soon be sent to First Deputy Prime Minister, Economy Minister Yulia Svyrydenko, demanding the dismissal of Hashev, holding a fair, public and transparent competition for the positions of members of the supervisory board, president and members of the board of directors, as well as to limit the direct impact on the economic activities of the agency.

As reported, on November 3, 2021, the Ministry of the Economy prematurely terminated the powers of the five members of the ECA Supervisory Board and the Chairman of the Board. “The reason for this decision was the extremely unsatisfactory performance of the agency and the lack of response to it from members of the supervisory board. Thus, taking into account the state of financial and economic activities of PJSC Export Credit Agency and the lack of measures to improve relevant indicators, the company’s development strategy, the Minister [Oleksiy Liubchenko, who was dismissed on the same day] has taken the decision to terminate the powers of the chairman of the board of directors of the agency Ruslan Hashev, “the ministry said on the website. Popov, vice-chairman of the ECA, was appointed acting chairman of the board of directors.

On November 24, 2021, the Ministry of Economy terminated Popov’s powers and reappointed Hashev to this post on the same day.

The ECA has 36 employees. The amount of contracts insured by ECA in 2020-2021 is $ 0.9 million. This is 0.0067% of the export of groups of goods, contracts for which the agency can insure.

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