OTP Bank in 2017 issues more than UAH 300 mln to farmers under OTP Agro-Factory program
OTP Bank together with the International Finance Corporation (IFC, the World Bank Group) within the OTP Agro-Factory crediting program has financed agricultural producers for the amount of more than UAH 300 million in 2017.
According to a press release of OTP Bank, over 60 agricultural producers were financed.
According to the bank, in 2017 it ranked first in terms of the portfolio of financial agrarian receipts in the amount of UAH 131 million.
OTP Agro-Factory in 2018 plans to sign contracts with more than 200 farms for UAH 1 billion credit limits.
The financial institution noted that the specially developed approach to a rapid analysis of agricultural producers allows the bank to make decision on lending in one day and issue a loan in short terms. A loan can be issued solely on the security of financial agrarian receipt or a future crop. The cost of financing can be from 9.5% per annum in the hryvnia thanks to partner programs with the suppliers of agricultural products, agricultural chemicals, fertilizers and fuel.
OTP Bank's partners in the agrarian program are such international manufacturers of plant protection agents, seeds and fertilizers as Syngenta, BASF, as well as Agro Arena, Alfa Smart Agro, Technotorg, and Nadiya fuel supplier.