Translated version of this PSD: Ukrainian
The EBRD is providing an operation under Ukraine Residential Energy Efficiency Financing Facility (the “Facility”, “Framework” or “UREEFF”) in favour of PJSC OTP Bank Ukraine (the “bank”, “OTPU”).
OTPU will lend up to UAH 360 million (EUR 15.5 million equivalent) in sub-loans to private residential stakeholders, including individual homeowners, groups of homeowners, housing associations, condominiums and cooperatives (together Sub-Borrowers). Eligible sub-loans will consist of investments in high performing energy efficiency technologies and measures, which can be expected to achieve a minimum energy saving of 20per cent when compared to market norms.
Incentive grant of up to €3 million provided by the Eastern European Energy Efficiency and Environmental Partnership (E5P) will support the Project through investment incentives for Sub-borrowers.
The Project is expected to generate transition impact by demonstrating benefits of household energy conservation and promoting the expansion of energy efficiency investments in the otherwise difficult residential sector. It will also support the expansion of the market for sustainable energy equipment and services, resulting in increased competition among the suppliers/installers/vendors.
UREEFF will ensure transfer of the necessary skills to OTPU and project stakeholders (i.e. local engineers/architects/designers) acquired through sub-project implementation as well as through dedicated trainings.
JSC OTP Bank Ukraine is a 100 per cent subsidiary of OTP Bank Plc., Hungary. OTPU is a universal commercial bank with country-wide presence, specialising in servicing middle-sized corporates and consumer finance. OTPU was the 13th largest bank in Ukraine with 1.7 per cent share of total banking assets as of the end of 1Q 2015. OTP Bank Plc. is a leading Hungarian financial group with around 21 per cent market share in total assets.
UAH 360 million (EUR 15.5 million equivalent)
Environmental and social categorisation, impact, and mitigation
Categorised FI (2014). OTP Ukraine is an existing client and is satisfactorily implementing the Bank's E&S requirements. OTPU will be required to continue to comply with PRs 2, 4 and 9, ensure sub-loans comply with the eligibility criteria for residential energy efficiency and submit Annual Environmental and Social Reports to the Bank.
UREEFF will be supported by a comprehensive technical assistance programme to provide implementation support to participating financial institutions and sub-borrowers. € 4.5 million funding for the TC programme are secured from SIDA-EBRD Ukraine Energy Efficiency and Environment Consultant Cooperation Fund (SWUK) and E5P (Eastern European Energy Efficiency and Environmental Partnership).
PJSC OTP Bank Ukraine
Mr. Volodymyr Mudryi, Member of the Board
+380 44 490 05 00
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