OTP Leasing will use the financing to particularly help small and medium sized businesses to invest in energy efficient machinery and upgrade their facilities with modern equipment to support a lower carbon footprint.
Ukraine is said to be among the world’s most energy intensive economies, partially attributed to its large industrial base with outdated and inefficient production technologies.
Georgina Baker, IFC Vice President for Europe, Central Asia, Latin America and the Caribbean said: “Investment in climate change mitigation and sustainable growth is among IFC’s priorities in Ukraine.
“This first IFC green-leasing project in Ukraine aims to promote growth in the country’s leasing sector, especially among smaller agricultural players and entrepreneurs. It will also help attract other investors, ultimately bolstering Ukraine’s climate finance market, enhancing access to finance and creating jobs.”