The Ministry of Infrastructure will provide coverage for the risks of shipping and railway companies – News

The Cabinet of Ministers of Ukraine decided to allocate 250 million Ukrainian hryvnia to the Ministry of Infrastructure from the Reserve Fund of the State Budget of Ukraine to ensure the safety of navigation in the waters of Ukrainian ports in the Danube region and rail transport.

The funds will be kept in a conditional deposit account of the Ministry of Infrastructure of Ukraine and, if necessary, provided to compensate for losses caused by Russian aggression against Ukraine.

“Under the conditions of the blockade of all sea ports of Ukraine, the load on the Ukrainian Danube ports and railways increased significantly.

The state is interested in increasing the flow of goods and, accordingly, the work of business in the region. We take some risks to encourage companies to provide foreign ships and railway cars to increase import and export traffic.

Thanks to the decision, carriers who were deprived of risk insurance will be able to obtain the necessary financial guarantees. We expect that thanks to this we will be able to significantly increase the volume of traffic, ”- said Minister of Infrastructure Alexander Kubrakov.

The following will be able to use this mechanism:

◾️ Owners and / or operators of railway cars located on the territory of Ukraine who are allowed to trade on railways of European standard (1435 mm)
◾️ Charterers, operators and / or owners of sea vessels and inland waterways located in the waters of Ukrainian ports in the Danube region and operating under the flag of Ukraine or under the flags of foreign countries.

Work is currently underway to agree on all the details of the financial support mechanism so that the process of providing guarantees is as transparent and clear as possible.

We will mention that the Ministry of Infrastructure established a similar insurance mechanism in February to ensure the safety of flights. Thanks to him, airlines were able to continue operating flights within the country and to other destinations in the tense security conditions that preceded the massive invasion of Russia.

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