OTP BANK signed Memorandum on soft loans to rebuild energy infrastructure
OTP BANK JSC, who set the goal to stimulate evolving of market of energy independent solutions, and leading banks signed the Memorandum on lending for energy infrastructure rebuilding projects.
Representatives of 17 financial institutions signed the document during Banking Forum, organized by “Ekonomichna Pravda” in Kyiv on June 25.
“The issue of electricity supply is critical today both for the economy and for the life of each of us. However, challenges pushing us to search for possibilities, to create new solutions and partnerships. That’s why leading banks united and signed the Memorandum on lending for tools of distributed power generation for strengthen of energy safety of Ukraine. Such powerful union of financial institutions with different forms of ownership has happened for the first time. This is a strong signal for the market, which confirms one more time the responsibility of Ukrainian banking business, which works stable and without interruption in difficult conditions, finances state budget deficit through government bonds, allocates billions of hryvnias for charity and according to the results of 2023 had paid 50% of the income tax”, - noted Chairman of the Management Board of OTP BANK Volodymyr Mudryi.
The memorandum on soft loans to rebuild energy infrastructure states the strategic direction pf banks loan policy regarding financing investment energy projects.
The support will be given for construction of solar, wind, biogas, biomass, gas turbine and gas reciprocating power plants, industrial batteries and cogeneration facilities. For small businesses (individual entrepreneurs included) the financing directions could be energy-efficient doors or windows and solar panels. Loan amount will depend on segment: for micro business – up to 0,5 million euro, for small business – up to 1-1,5 million euro, for middle and big business – up to 10-25 million euro. The client's own contribution will be from 10% to 50% (the size of the project and the cost of the equipment will be taken into account). Loans will be granted for up to 5-7 years. Their value will depend on the NBU discount rate and may vary, as well as on the possibility of attracting state support and other conditions.
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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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