Romania has joined a European Union initiative to facilitate exports to Ukraine through Exim Banca Romaneasca, which signed up to the InvestEU Ukraine Export Credit Guarantee Facility – a joint initiative of the European Commission and the European Investment Fund (EIF). Under the facility, national export credit agencies in the EU offer guarantees to small and medium-sized enterprises (SMEs) and Mid-Caps exporting to Ukraine. The national guarantees are in turn backed by the EIF, which is part