OTP Bank participated in the event "Launch of the new loan portfolio guarantee mechanism" organized by the Organization for Entrepreneurship Development (ODA) on the occasion of the 30th anniversary of the inauguration of the Loan Guarantee Fund for Small and Medium Enterprises (LGC).
Portfolio guarantees, the new loan guarantee mechanism, was developed and launched by ODA with the support of the World Bank. The purpose of this financial instrument is to support local entrepreneurs by facilitating access to financing by providing a flexible and efficient guarantee product, and to accelerate the economic development of the country.
During the event, Elena Guzun Deputy CEO, Commercial Director Corporate Banking, shared OTP Bank's experience in implementing the "InnovFin" portfolio guarantee, contracted from the European Investment Fund, which outlines advantages similar to the ODA portfolio guarantee, in particular, the full delegation of management and the inclusion of credits in the portfolio directly guaranteed by the bank.
OTP Bank, one of the main systemic banks on the country's financial market, will implement ODA portfolio guarantees, opening access to new development prospects for its clients. The portfolio guarantee from the ODA creates extended eligibility conditions for financing and will contribute to the financing of more than 900 enterprises, securing more than 3000 jobs.
The Organization for Entrepreneurship Development (ODA) is a public institution subordinate to the Ministry of Economy with the mission of supporting the development of the local entrepreneurial environment, including small and medium-sized enterprises, by promoting the entrepreneurial culture, providing financial and technical assistance to companies, issuing financial guarantees and state, as well as ensuring business support infrastructure.
OTP Bank (Moldova), a subsidiary of OTP Group, is an integrated and universal provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank understands the needs of customers and the current market context, and is a reliable financial partner in the provision of financial services.
