The European Bank for Reconstruction and Development (EBRD) is providing an unfunded portfolio risk-sharing facility to OTP Bank Ukraine, a unit of Hungary’s OTP Bank, that will unlock EUR 200m of new financing for Ukraine’s private sector, the lender said on Monday.

The EBRD’s facility will cover up to 50pc of OTP Bank’s credit risk on EUR 200m of newly issued sub-loans to private businesses operating in Ukraine, the EBRD said. The credit enhancement mechanism will enable OTP Bank Ukraine to finance critical industries such as agriculture, energy, manufacturing and transport, supporting company operations and preserving access to critical goods, it added.

related article: Hungarian OTP Bank eyes expansion in Ukraine with major acquisition

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