Recent Posts
- State Cybersecurity Policy: Ukraine and International Experience 29.03.2025
- Ukraine recovery should be based on development of territorial communities, innovations, involvement of professional domestic community – results of ESUR forum 29.06.2023
- Ukraine repatriates five more seriously wounded Russian POWs 10.04.2023
- Rada intends to include history of Ukraine, foreign language in final certification for general secondary education 10.04.2023
- Rada terminates protocol on joint anti-terrorist measures in CIS territories for Ukraine 10.04.2023
EBRD takes 60% of credit risks in loans from ProCredit Bank, OTP Bank for EUR 33.75 mln to ensure food security
KYIV. May 2 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) will take on 60% of the credit risks on loans and payment guarantees to ensure food security, which will be provided to eligible borrowers by ProCredit Bank and OTP Bank (both from Kyiv) for a total amount equivalent to EUR 25 million and EUR 8.75 million, respectively.
"The Facility is provided in the extraordinary circumstances of the ongoing war on Ukraine, serving as a significant risk mitigating instrument to enable financing of critical agri-related industries," the bank said on its website.
The board of directors of the bank approved these projects on April 22.
The EBRD said that the Facility will support food security in Ukraine by enhancing PCBU’s lending capacity and providing much needed access to finance for Ukrainian private companies operating in critical agri-related industries (farming, food and agri produce processing, transportation and imports), with the ultimate goal of preserving livelihoods in the country.
ProCredit Bank is a 100% subsidiary of the German ProCredit Holding AG&Co. KGaA and one of the leaders in the financing of small and medium-sized businesses (SMEs) in Ukraine. With total assets of UAH 32.41 billion, as of March 1, the bank was ranked 14th among 69 operating banks in Ukraine. The bank offers all types of traditional banking products to its 5,200 SME clients and more than 23,000 private clients through six branches, four self-service zones and a single e-banking platform.
OTP Bank is a 100% subsidiary of the Hungarian OTP Bank Plc. OTP Bank is a universal bank offering traditional banking products for small and medium business/corporate (70% of the loan portfolio) and retail (30%) clients. With total assets of UAH 75.52 billion, as of March 1, the bank was ranked ninth among 69 operating banks in Ukraine.
