Environmental and Social Management System of OTP BANK complies with the requirements of the World Bank – BDF
Environmental and Social Management System (ESMS), which OTP BANK JSC implements complies with standards of the World Bank. This conclusion was reached by Business Development Fund based on the results of an appropriate comprehensive assessment.
“The Bank is sincerely grateful to the BDF and the World Bank for the work done and for this recognition. We are proud of our achievements, but at the same time we intend to move further in the direction of improving and deepening our environmental and social management system. As a financial institution, we understand the responsibility for the transition to the principles of a sustainable circular economy. We strive to show by our own example that the implementation of ESG criteria provides significant advantages for conducting business”, - noted ESG manager of OTP BANK Maksym Oliinyk.
The Bank has a clear understanding of its social mission and role in society and the country in general, therefore it actively integrates environmental and social aspects into all processes of its activity. Special attention is paid to their implementation in credit products.
In particular, the financial institution offers its clients special conditions of support for projects to strengthen the energy independence of Ukrainian business. Joint financing programs with international partners, in particular, with the European Bank for Reconstruction and Development (EBRD), allow businesses to receive an additional advantage in the form of cashback of up to 15% of the project cost. There is a possibility of financing within the framework of the state program "Affordable loans 5-7-9%", and if the company does not fall under the criteria of the program, the bank offers special conditions at a preferential rate of 13.5% within the framework of the implementation of the Memorandum on lending projects for the restoration of energy infrastructure.
Also, taking into account the challenges and the need to overcome the consequences of the war, the Bank successfully cooperates with the USAID Project "Investments for Business Sustainability" within the scope of supporting socially sustainable solutions designed to help small and medium-sized enterprises that were forced to relocate, as well as enterprises with a majority of women in ownership structure.
The financial institution has green and sustainable products for customers of all business segments. You can familiarize yourself with them by following the link.
To remind, The World Bank actively supports the movement of the banking system of Ukraine in the direction of sustainable lending, including through the integration of the environmental and social management system. The Entrepreneurship Development Fund analyzes the SESM developed by financial institutions for compliance with the requirements of the World Bank.
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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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