OTP Bank plans to become a hub for distribution of international grants to support business - V. Mudryi
OTP Bank intends to become a hub for the distribution of grants from international financial partners and access to preferential business lending programs. The CEO of OTP Bank, Volodymyr Mudryi, said this at the "Finance for business during the war" conference, organized by the European Business Association and the Independent Association of Ukraine’s’ Banks with the support of international donors - the USAID Project "Investments for business sustainability" and the IFC project "Asset Based Finance", implemented in partnership with the Swiss State Secretariat for Economic Affairs (SECO).
"OTP Bank plans to become a hub for providing international grants for business, remaining a reliable partner for international financial institutions, which play an important role in the restoration of lending. USAID, IFC and EBRD have huge opportunities, significant capacities. And entrepreneurs need to be told about this as much as possible," said V. Mudryi.
During the conference, V. Mudryi called on the banking sector, international partners and the state for an active dialogue regarding the implementation of joint projects in the revival of lending.
"If you look at the statistics, since July 2023, the banks’ loan portfolio has been constantly growing. But we also know that a huge part of this growth is ensured by state programs of subsidized loans "5-7-9%", - emphasized the banker.
In his opinion, the macro-stability ensured by the National Bank, the predictability of the exchange rate, the level of inflation, the growth of GDP and the liquidity of banks encourage to move to a new stage of cooperation for the development of the economy. "Our goal is to develop new approaches to the further development of lending, financing and co-financing of entrepreneurs. And there is no way to do it without a direct dialogue with business," V. Mudryi summarized.
To remind, OTP Bank is already implementing a number of projects with international organizations. In particular, the grant program with the US agency for international development USAID, within which it provides targeted financing to small and medium-sized businesses to replenish working capital. It also offers SME clients investment loans with the possibility of reimbursing up to 20% of the received funds within the framework of the program with the European Bank for Reconstruction and Development (EBRD). OTP Bank cooperates with the International Financial Corporation IFC under the Risk Sharing Program agreement to provide financial support to enterprises in key sectors of the Ukrainian economy, especially the agricultural sector and businesses owned by women.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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