(ANSA) - TRIESTE - The EBRD is providing a local currency loan in Ukraine in the amount of 17 mln euro to OTP Leasing (OTPL), EBRD said in a press release. The funds will help OTPL to expand its operations in local currency to small and medium-sized enterprises (SMEs) across the country and to manage its balance-sheet currency structure.

OTP Leasing is a limited liability company incorporated in Ukraine and beneficially owned by OTP Bank plc of Hungary. The EBRD loan will contribute to OTPL's development strategy, designed to diversify its customer base and target smaller agricultural producers with land banks exceeding 5,000 hectares.

The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €12.2 billion through 377 projects since the start of its operations in the country in 1993.

Sevki Acuner, EBRD Director for Ukraine, said that "Ukraine's leasing market has contracted severely in recent years. The loan agreement with OTP Leasing is very important, not only financially but also in terms of market confidence and development".

"OTP Bank is focused on the needs of SMEs. We have developed a whole range of products and services: from special overdraft and tariff packages to an integrated loan project called OTP Agro-Factory", said Tamas Hak-Kovacs, Chairman of the Board of OTP Bank PJSC. (ANSA).