OTP Leasing II (IFC-42710)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 5, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
OTP LEASING LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2019

Disclosed by Bank Aug 2, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank's website, this project provides financing to the borrower in order to expand their energy efficiency and renewable energy investments portfolio.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 2008, OTPL is part of the Hungary-based financial group, OTP Group. The Company has is the market leader with a market share of 40%, based on value of leased assets. Based in the city of Kyiv, the Company provides leasing services for freight transport, motor vehicles, agricultural machinery and special equipment. The Company’s leasing portfolio at the end of 2018 amounted to UAH6.5 billion (US$240 million equivalent).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Abris CEE Holdings Ltd Parent Company Water and Sanitation owns Green Group Client Water and Sanitation
ADP Parent Company Transport owns Zagreb Airport Intl Co Client Transport
Bouygues Parent Company Transport owns Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
GEA Parent Company Transport owns Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
Hrvatske Autoceste Parent Company Transport owns Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
INA Industrija Nafte Parent Company Transport owns Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
Istarska Autocesta Investor Finance invests in Abris CEE Holdings Ltd Parent Company Water and Sanitation
Istarska Autocesta Parent Company Transport owns Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
Maxon Ltd Parent Company Mining owns ALRO SA Client Mining
MOL Group Parent Company Mining owns MOL Group Bond Facility 2020 Client Mining
MOL PLC Parent Company Mining owns MSZKSZ Zrt Client Mining
OTP Bank Group Investor Finance invests in ADP Parent Company Transport
OTP Bank Group Investor Finance invests in ALRO SA Client Mining
OTP Bank Group Investor Finance invests in Autocesta Rijeka Zagreb dd Parent Company Transport
OTP Bank Group Investor Finance invests in Bina Istra Motorway (145KM) PPP Refinancing 2020 Client Transport
OTP Bank Group Investor Finance invests in Bouygues Parent Company Transport
OTP Bank Group Investor Finance invests in Croatia Motorway Privatisation Client Transport
OTP Bank Group Investor Finance invests in GEA Parent Company Transport
OTP Bank Group Investor Finance invests in Green Group Client Water and Sanitation
OTP Bank Group Investor Finance invests in Hrvatske Autoceste Parent Company Transport
OTP Bank Group Investor Finance invests in Hrvatske Autoceste doo d] Parent Company Transport
OTP Bank Group Investor Finance invests in Hrvatske Ceste doo Parent Company Transport
OTP Bank Group Investor Finance invests in Huvepharma AD Sofia Parent Company Education and Health
OTP Bank Group Investor Finance invests in INA Industrija Nafte Parent Company Transport
OTP Bank Group Investor Finance invests in Ina Industrija Nafte Dd Parent Company Mining
OTP Bank Group Investor Finance invests in Istarska Autocesta Parent Company Transport
OTP Bank Group Investor Finance invests in Maxon Ltd Parent Company Mining
OTP Bank Group Investor Finance invests in MET Holding AG Client Energy
OTP Bank Group Investor Finance invests in MOL Group Parent Company Mining
OTP Bank Group Investor Finance invests in MOL Group Bond Facility 2020 Client Mining
OTP Bank Group Investor Finance invests in MOL Hungarian Oil & Gas PLC Parent Company Mining
OTP Bank Group Investor Finance invests in MOL PLC Parent Company Mining
OTP Bank Group Investor Finance invests in MSZKSZ Zrt Client Mining
OTP Bank Group Investor Finance invests in MVM Plc Parent Company Energy
OTP Bank Group Investor Finance invests in Republic of Croatia Parent Company Transport
OTP Bank Group Investor Finance invests in Russian Copper Co CJSC Parent Company Mining
OTP Bank Group Investor Finance invests in Toi Commodities Sa Parent Company Mining
OTP Bank Group Investor Finance invests in WISD Holding Ltd Parent Company Energy
OTP Bank Group Investor Finance invests in Zagreb Airport Intl Co Client Transport
Republic of Croatia Parent Company Transport owns Croatia Motorway Privatisation Client Transport
WISD Holding Ltd Parent Company Energy owns MET Holding AG Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

OTP Leasing Ukraine LLC 
Andrey Pavlushyn 
CEO 
+380 (44) 500 1000 
Andrey.Pavlushyn@otpleasing.com.ua 
43 Zhylianska St., 01033 Kyiv, Ukraine 
www.otpleasing.com.ua 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works