According to the Bank’s website, the project consists of the provision of a five-year senior unsecured loan of up to EUR 15 million to OTP Bank SA (OTP Bank) under the SME Competitiveness Programme in the Eastern Partnership for on-lending to eligible micro, small and medium enterprises (MSMEs). The loan will be available in three tranches of EUR 5 million each. In addition to long-term financing, eligible sub-borrowers will receive technical assistance funded by the European Union and grant support in the form of investment incentives upon the completion of their investment projects.
The SME Competitiveness Programme in the Eastern Partnership is a follow-on facility of the existing FI DCFTA Blended Finance Programme (DCFTA), designed for Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine to support upgrades in micro, small and medium-sized enterprises (MSME) to European Union (EU) standards. The proposed project will enable OTP Bank to extend loans for investment purposes to local SMEs, financing upgrades of technology and equipment necessary to meet EU standards in terms of product quality, health and safety measures and environmental preservation and thus will help businesses to become greener and more competitive.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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