OTP Bank joins the global WE Finance Code initiative to support women entrepreneurs
JSC OTP Bank has joined the international WE Finance Code initiative, a global effort aimed at fostering the growth of women-led businesses. The initiative was officially launched in Ukraine on July 14 in Kyiv by the Ministry of Economy, Environment and Agriculture of Ukraine, the National Bank of Ukraine, and the European Bank for Reconstruction and Development (EBRD).
“Supporting women’s entrepreneurship is one of OTP Bank’s key priorities. We strive to ensure that women-led businesses have greater opportunities to access financing and grow. Whenever we have the opportunity to create better conditions or products for women, we actively pursue it. In particular, through our cooperation with the European Bank for Reconstruction and Development, we are able to offer women entrepreneurs enhanced cashback incentives of up to 30% of the financing amount for modernization and energy resilience projects. OTP Bank’s accession to the WE Finance Code is a natural continuation of these efforts and underlines our commitment to working alongside the government to further advance women’s entrepreneurship. While the military defends the country, women are helping sustain the home front. The more businesses have access to the resources they need to grow, the stronger the Ukrainian economy will become,” said Olha Volkova, Director of Sales for Medium and Small Corporate Clients at OTP Bank.
OTP Bank joined the first wave of signatories to the initiative. In total, 22 organizations, including banks, credit unions, leasing companies, and financial sector associations, have become members of the WE Finance Code Coalition.
By signing the Code, participants have voluntarily committed to expanding access to finance for women-led enterprises, improving data collection and analysis, developing specialized financial products, and promoting best practices in support of women’s entrepreneurship. The Ministry of Economy, Environment and Agriculture of Ukraine will serve as the national coordinator of the initiative.
According to the Ministry, WE Finance Code is a global multi-stakeholder initiative designed to improve access to financing for women-led micro, small, and medium-sized enterprises. The initiative is currently being implemented in more than 30 countries worldwide, bringing together financial institutions, regulators, business associations, and international partners around a shared goal: creating a more accessible and effective financial ecosystem for women entrepreneurs.
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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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