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OTP Bank, JSC has received its second grant from the USAID Investment for Business Resilience Activity to expand financial access for micro, small, and medium-sized enterprises (MSMEs). More than 100 companies have already been financed with this program during the first phase. This new tranche of $2.76 million will bring the total grant amount to $4 million, which will cover a portion of the interest rates for the enterprises.   

The grant program envisages that OTP Bank, JSC will lend to businesses at an interest rate of 9.9% per annum in the first year of the loan agreement. The grant funds will cover the difference between the client and market interest rates. From the second year onward, customers will pay interest on the loan at the rate of UIRD3m + 5% p.a. (UIRD3m representing the Ukrainian index of three-month retail deposit rates).

Eligible MSMEs with annual revenues up to EUR 50 million and up to 250 employees that fall into one of the target groups will be able to get access to concessional financing from OTP Bank. This includes:

•           relocated businesses and businesses affected by hostilities;

•           companies operating in critical sectors of the economy such as agricultural production, production of construction materials and electrical devices, transportation, logistics, processing, etc.;

•           businesses with women in ownership.

"The Project started cooperation with OTP Bank under the grant program in September 2023. The results of our partnership are significant. Over this period, more than 100 companies have received financing from the bank for almost UAH 550 million at a subsidized interest rate. The objectives for the second stage of the program are even more ambitious - to provide