JSC “OTP BANK” offers Ukrainian enterprises a number of loan programs that will allow them to become energy independent and ensure uninterrupted business operation in the face of electricity shortages. This was stated by Valeriy Terno, Head of Sales to Medium Corporate Clients at OTP Bank, during a roundtable discussion on energy independence organized by the Financial Club.
“The bank has set itself the goal of stimulating the development of the market for energy-independent solutions and providing support to businesses in financing such projects. We prepare optimal offers and favorable conditions for each client. We are talking about low interest rates and the possibility of implementing them under government programs, as well as cashback, and with additional guarantees from the state, the EBRD, and other institutional investors, we will be able to further expand the decision-making criteria for implementing certain projects. We already have successful cases in this direction,” said Mr. Terno.
In particular, small and medium-sized businesses can count on financial support from OTP Bank under the program “Affordable Loans 5-7-9%”, which is being implemented by the government at the initiative of the President of Ukraine through the Entrepreneurship Development Fund.
Also, the joint program with the European Bank for Reconstruction and Development allows us to offer investment loans to SMEs with the possibility of compensating part of the costs financed by the Bank’s credit funds. This loan can be used for long-term investments in green technologies (energy-efficient equipment, solar panels for power plants to meet their own needs) that meet European Union standards and will help increase the competitiveness of enterprises in domestic and foreign markets. After the implementation of the projects, customers will be able to apply for investment incentives (cash compensation, cashback).
“By installing solar panels or other elements, including gas turbine or gas piston stations, entrepreneurs will be able not only to ensure their own energy independence but also to sell the remaining energy produced to the grid, thereby contributing to the country’s energy security,” added the Head of Sales to Medium Corporate Clients at OTP Bank.
Until June 20, regional power distribution companies will apply hourly blackout schedules across Ukraine from 00:00 to 24:00, NPC Ukrenergo announced on its Telegram channel on Wednesday.
“The reason is the high level of consumption due to the heat and working days,” the system operator said.
Power supply to critical infrastructure facilities is not limited.
2022-2024 goods trade balance forecast (USD bln)
Source: Open4Business.com.ua and experts.news
Lviv-based Cardboard and Paper Company LLC, a major Ukrainian manufacturer of cardboard tubes, produced products worth UAH 506.2 million in January-May 2024, down 3.5% from the same period in 2023.
According to UkrPapir Association statistics provided to Interfax-Ukraine, the company reduced its output of cardboard products by 17.4% in physical terms to 9.4 thousand tons, while it increased its production of paper base for sanitary products by 27% to 3.6 thousand tons. The production of toilet paper in rolls decreased by 13.4% to almost 2 million units.
At the same time, in May, the company reduced its paper and cardboard production by 4.6% by May 2023, but increased it by 90% by April this year, to almost 3 thousand tons.
LLC “Cardboard and Paper Company” produces products and semi-finished products from waste cardboard (cardboard sheets, corners, sleeves), cellulose and recycled waste paper (toilet paper, towels, napkins TM Papero). The company supplies its products, in particular, to the EU countries.
Among its customers are Biosphere, Arterium, Nestle, Khlibprom, Yarych, and Galych dairy companies.
As reported, in 2023, the company increased its production by 7% compared to 2022, to UAH 1.27 billion.
The State Property Fund of Ukraine (SPFU) has put up for sale the unified property complex of the state-owned enterprise Nepolokovets Bakery (Chernivtsi region) with a starting price of UAH 217.4 million, said Vitaliy Koval, the Fund’s chairman.
“This is an operating enterprise for the production of flour and cereal products with a strong production base and significant development potential,” he wrote on Telegram.
The complex is located in the village of Nepolokivtsi, 27 km from Chernivtsi. It consists of production, warehouse, administrative and auxiliary buildings with an area of about 42 thousand square meters, as well as 24 vehicles and special equipment, more than 1200 pieces of equipment and other assets.
Among the advantages of the facility, the SPF chairman named the ready-made infrastructure, which allows to immediately start operations and increase volumes, a favorable location near the EU border and guaranteed demand for products.
The auction will take place on June 24 in the electronic trading system Prozorro.Sale.
Geographical structure of Ukraine’s foreign trade (surplus) in Jan-Feb 2024, ths. USD
Source: Open4Business.com.ua and experts.news
