Luxembourg and Kyiv, 6 June 2019 – The European Fund for Southeast Europe (EFSE) has provided its first investment to OTP Leasing, Ukraine in the form of a senior loan of USD 10 million. This is also the fund’s first engagement with the leasing sector in Ukraine. The partnership will enhance access to longer-term fixed assets financing for rural and agricultural micro and small enterprises (MSEs), enabling them to increase production capacities and business competitiveness.
OTP Leasing is the largest leasing company in the country, with over 40% market share by value of leased assets and excellent know-how of the MSE market. The funding will enable the company to reach out to a large number of small businesses, including agricultural producers and farmers, and thus contribute to sustainable business and economic development in Ukraine.
EFSE Board Chairman Christoph Tiskens said: "With this new investment, we will expand our operations and outreach to the MSE sector in Ukraine and increase the resources available to agricultural businesses – an important sector of the Ukrainian economy. OTP Leasing is a strong partner in this regard and we are looking forward to building a long-term and fruitful cooperation.”
CEO of OTP Leasing, Andrey Pavlushyn said: "It is a big honor for us to start cooperating with such an esteemed institution as EFSE. We are looking forward to increasing our financing to small agricultural enterprises in Ukraine. With the further expansion into the MSE segment, we hope to not only achieve a better portfolio diversification, but also improve access to leasing finance for our clients.”
One of the largest development finance funds worldwide, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households. As access to financial services is key to developing this segment, EFSE focuses on helping local financial sectors strengthen their ability to provide responsible financing for this target group. Alongside its investment activities through local partners, EFSE multiplies its impact through the EFSE Development Facility, which provides technical assistance, training, and other nonfinancial support to entrepreneurs and institutions.
EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors.
Finance in Motion GmbH, Germany, serves as EFSE’s advisor and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.
For more information on the European Fund for Southeast Europe, please visit: www.efse.lu
For more information on Finance in Motion, please visit: www.finance-in-motion.com
About OTP Leasing LLC
OTP Leasing is a universal leasing company that is part of the European financial group OTP Group, which for decades has a reliable reputation throughout Europe. OTP Leasing was founded in July 2008 as a subsidiary of JSC "OTP Bank". OTP Leasing works in all segments of the market with leading manufacturers of machinery, special vehicles and cars, providing leasing services.
For more information please visit: www.otpleasing.com.ua
Media contact EFSE
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470
Media contact OTP Leasing
Phone: +38 (0)67 657 40 76
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