DFC Announces $357 Million in New Political Risk Insurance in Ukraine as Russia’s Invasion Threatens Critical Private Investment

Media Release


MEDIA KIT: DFC at Work: Supporting Ukraine

BERLIN, GERMANY – The U.S. International Development Finance Corporation’s (DFC’s) Chief Executive Officer (CEO) Scott Nathan announced today a new financing package that includes political risk insurance transactions for Ukraine worth more than $350 million, employing one of the agency’s signature tools to address the most urgent Ukrainian economic needs and lay a foundation for the country’s long-term recovery.

“The private sector is critical to Ukraine’s recovery, but the brutality of Russia’s invasion of Ukraine created uncertainty around the investment environment and whether companies will feel confident in rebuilding their operations,” CEO Nathan said while attending the Ukraine Recovery Conference. “The U.S. Government recognizes these security concerns and is taking steps to help drive capital to the private sector in Ukraine. We are leveraging our unique tools, especially political risk insurance, along with loans, loan guaranties, and equity investments, to build investor confidence in Ukraine at this critical moment.”

The four new transactions are valued at $357 million total, bringing DFC’s transactions in Ukraine since Russia launched its full-scale invasion to $848 million and its total portfolio there to $1.6 billion. The new transactions represent only part of a broader package that CEO Nathan announced at the conference, where he also met with world leaders and other development finance officials.

DFC announced the following political risk insurance transactions:

  • A $50 million reinsurance facility brokered by Aon and distributed by ARX, a Ukrainian subsidiary of Fairfax Financial Holdings Limited, to build a portfolio of war risk insurance policies for companies operating in Ukraine and to support ARX in expanding its war risk insurance offering in Ukraine.
  • $150 million in political risk insurance to maintain existing operations in Ukraine’s agricultural export sector. These operations support Ukrainian livelihoods and generate significant exports to alleviate food insecurity.
  • A political risk insurance contract for $152 million to a Ukrainian company involved in the manufacturing sector.
  • $5 million in political risk insurance to support Ukrainian students’ access to higher education amid the war.

The sheer scale of Russia’s unilateral invasion requires that DFC not identify several of the organizations in these transactions due to the threat of military retaliation against companies working to help the Ukrainian people.

CEO Nathan also announced a $28 million loan portfolio guaranty to ProCredit Bank Ukraine. The transaction was co-sponsored by USAID and will support lending to Ukrainian small businesses and catalyze investment in Ukrainian businesses, especially those in the agricultural sector working to strengthen food security in Ukraine.


The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.