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Risk-sharing agreement OTP Bank Ukraine (RLF FSG)



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

22 Apr 2022



PSD disclosed:

29 Apr 2022

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Food Security Guarantee ("FSG", the "Facility") in the form of an unfunded risk-sharing instrument covering 60 per cent of the credit risk in newly originated sub-loans with the total value of EUR 8.75 million equivalent to be originated by JSC OTP Bank in Ukraine ("OTPU").

Project Objectives

The Facility will support food security in Ukraine by enhancing OTPU'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.

Transition Impact

ETI score: 70

The Facility will support the Resilient and Inclusive TI qualities. The Resilient quality stems from credit enhancement mechanism provided by the FSG, which enables OTPU to finance Ukrainian agricultural value chains to preserve food security, while shielding their loan portfolio for excessive risk prevailing in the current volatile conditions. The Facility will also support the Inclusive quality by providing funding to the Ukrainian businesses directly affected by the conflict, aimed at safeguarding their human and organisational capital.

Client Information


JSC OTP Bank in Ukraine ("OTPU") is a 100 per cent owned subsidiary of OTP Bank Plc., Hungary. OTPU is a universal bank offering conventional banking products to SME/corporate (70 per cent of the loan book) and retail (30 per cent) clients. The bank was ranked 9th in Ukraine with 3.4 per cent share of total banking assets as of the end of 2021.

EBRD Finance Summary

EUR 5,250,000.00

Total Project Cost

EUR 8,750,000.00


Response to the war in Ukraine: 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.

Environmental and Social Summary

Categorised FI (ESP 2019). OTPU is an existing client of EBRD and performance on environmental and social (E&S) issues to date has been satisfactory. Annual reporting and previous E&S due diligence demonstrated that the bank has a written Environmental Management Policy, staff nominated to manage E&S issues, adequate E&S risk management procedures built into the credit appraisal process and appropriate monitoring for E&S issues both within the portfolio and the institution. The management system is applied to the entire commercial lending portfolio. OTPU has also provided information to confirm compliance with PRs 2 and 4. OTPU should note requirements of the revised EBRD E&S Policy notably in relation to the updated E&S Exclusion List, the E&S Referral List and the requirement to apply PRs 1 through 8 and 10 to any Category A projects considered. OTPU should continue its compliance with PRs 2, 4 and 9 and the submission of annual E&S reporting to the EBRD (to the extent possible).

Technical Cooperation and Grant Financing

Non-TC: Non-TC funds for the First Loss Risk Cover ("FLRC") are provided to EBRD by Financial Intermediary and Private Enterprises Special Fund under a specific window for the EBRD's War on Ukraine Response Package.

Company Contact Information

Tetiana Petrunok
+38 044 490 05 59
43 Zhylyanska str., Kyiv-33, Ukraine, 01033

PSD last updated

29 Apr 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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