JSC OTP BANK plans to continue active lending to corporate business next year, in particular, to increase the volume of financing for renewable energy. This was stated by Alla Biniashvili, Member of the Management Board of OTP Bank responsible for corporate business development, during the event “Global Outlook: Strategic Momentum”.
“What, in our opinion, will be the driver in 2026? Of course, renewable energy. It is already financed mostly by state-owned banks, but all other institutions also prioritize financing energy security and renewable energy. And we at OTP Bank expect a significant increase in its share in our portfolio and in the portfolios of other banks next year,” said A. Biniashvili.
According to her, the banking sector is characterized by a high level of liquidity, and banks are determined to continue to finance businesses. In 2025, the top 3 lending areas include agriculture, food industry, and trade, both wholesale and retail. Financial institutions support Ukrainian companies by competing for customers and offering them optimal rates and conditions. “They do this, they successfully lend. But banks also finance companies. When we look at the balance sheets of banking institutions, we see that liabilities, i.e. deposits and account balances, are twice as high as assets. The reason for this is uncertainty: most companies are afraid to invest in projects because of the war and the risks associated with it. However, we are growing, and the banking sector is developing. If we talk about OTP Bank, we have grown by 35% in hryvnia over six months, i.e. plus UAH 6 billion to the beginning of the year,” emphasized the Board member.
According to Alla Biniashvili, despite all the challenges, including the geopolitical situation, inflation, deterioration of the trade balance due to the need for imports for energy security, lower harvests, and staff shortages, financial institutions are optimistic about the future. “We shouldn’t give up, because when the war is over, everyone will lend, and it will be a boom. And now we are working based on the situation we have and doing everything to effectively support business and the country’s economy,” emphasized the member of the Board of OTP Bank.
The event “Global Outlook: Strategic Momentum” event was attended by Andriy Pyshnyi, Governor of the National Bank of Ukraine, Olena Voloshyna, Country Manager of the International Finance Corporation (IFC) in Ukraine, and representatives of the business community. The participants focused on the following key areas: financial stability and the role of business in Ukraine’s recovery. They discussed the practical contribution of companies to rebuilding the country’s infrastructure, as well as the innovations and support needed to overcome current challenges. In total, the event was attended by about 350 guests, with another 200 joining the conference online.
The volume of financing actually allocated to Ukraine by international partners in January-May 2023 to cover the deficit was $17.97 billion, compared to $32.14 billion in the previous year, the Ministry of Finance has reported.
According to the data published on its website, the grants accounted for $6.16 billion or 31.1%, including $6 billion provided by the United States, $52 million by Germany, $50 million by Spain and $21 million each by Finland and Ireland.
The biggest creditor of Ukraine this year is the EU – $8.12 billion, which has already exceeded the figure of the whole of last year, which amounted to $7.96 billion.
The IMF is the third largest lender this year with $2.706 billion compared with $2.693 billion last year.
They are followed by Canada with $1.76 billion, as well as the World Bank and the UK with $0.55 billion and $0.50 billion, respectively.
The Ministry of Finance specifies that the internal financing of the state budget through placement of government bonds amounted to $6.74 billion during this period.
As earlier reported, in 2023, Ukraine expects to receive about $42-42.5 bln in external financing of the state budget.
The Executive Board of the International Monetary Fund (IMF) has approved $1.3 billion in emergency financial support for Ukraine under the new Rapid Financing Instrument (RFI) food shock window to meet Ukraine’s urgent balance of payments needs.
“More than seven months after the start of the Russian invasion of Ukraine, humanitarian and economic losses remain enormous, leading to large and urgent fiscal and external financing needs,” the IMF said on its website on Saturday night.
The IMF points out that the scale and intensity of Russia’s war against Ukraine, which began more than seven months ago, has caused enormous human suffering and economic damage. With massive population displacement and destruction of housing and basic infrastructure, Ukraine’s real GDP is projected to contract by 35% in 2022 compared to 2021, and financing needs remain very large.
“This RFI payment (equivalent to 50% of Ukraine’s IMF quota) will help meet the urgent needs of the balance of payments, including due to a large reduction in grain exports, and will also play the role of a catalyst for further financial support from Ukraine’s creditors and donors,” the Fund stressed.
The IMF noted that the Ukrainian authorities are to be commended for maintaining largely macro-financial stability in these extremely challenging circumstances and have requested board-level monitoring of the program to bolster their policy commitment and further galvanize donor support.
President of Ukraine Volodymyr Zelensky expressed gratitude to the governments of Western countries and international organizations for financial support to Ukraine.
“I am grateful to the government of Britain, the leadership of the World Bank, the government of Canada for taking new steps in financial support for Ukraine,” he said in a video statement on the night of Friday to Saturday.
He said “the day before, our state received $1.5 billion: $1 billion from the World Bank, another $500 million from the UK. It is direct budget support.”
“We use it to pay wages in the public sector. Canada was the first country to send funds to our administrative account with the IMF, this is CAD 1 billion,” he said.
The main topics in the contacts of Ukrainian President Volodymyr Zelensky with the leaders of other countries remain defense and financial support of the state, blocking of Ukrainian ports in the Black Sea, the threat of a food crisis, Presidential Press Secretary Sergei Nikiforov said.
“The list of issues is the same. There is an urgent issue – blocking our ports in the Black Sea. There is a threat of a general food crisis and a food crisis in certain regions of different countries, because Ukraine is a supplier of agricultural products for many markets. And now because of violations of supply chains and supply chains, such a threat exists,” Nikiforov said on the air of the national telethon on Sunday.
Also, according to him, topical issues are financial support for the Ukrainian economy in the conditions of war, sanctions against the Russian Federation and defense support.
“With some of the leaders, certain issues come to the fore, with others – in the background. It depends on the country and each specific situation,” he said.
JSC Ukrzaliznytsia turned to partners and financial donors with a request to provide non-refundable financial assistance for the company’s work in the conditions of war.
According to the company’s website, the funds will be used to continue evacuation and provide shelters to the civilian population, to help the company’s employees affected by military aggression, as well as to support the company’s activities during the military aggression of the Russian Federation.
“Against the backdrop of open military aggression against Ukraine, launched by Russia on February 24, which is now unfolding, Ukrzaliznytsia continues its work. The main priority today is to ensure the safety of the civilian population and its transportation to safer regions, to protect the life and health of workers. The Ukrainian Railways continues its activities, being at the forefront of humanitarian, evacuation and economic support for Ukraine,” the company said in a statement.
In addition, the company continues at its own expense to evacuate civilians from regions under shelling by Russian invaders. Thus, since the beginning of the war, more than 3 million people have already been evacuated to safer regions. In addition, cargo transportation is carried out to meet the needs of the state and business.
In addition, the company notes that Ukrzaliznytsia constantly records the facts of the destruction of the railway infrastructure and rolling stock. Risking their lives, railway workers are trying to quickly restore damaged equipment and tracks in order to ensure the continuous transportation of passengers and goods. Unfortunately, there are injuries and deaths of workers, members of their families, as well as the destruction of their homes as a result of attacks by the Russian military.
“Railroad workers are confident that the current situation will not stop Ukrzaliznytsia, but, on the contrary, will lead it to a new stage of growth and modernization. Therefore, the company seeks to continue the dialogue with its partners as soon as possible and at this difficult time highly appreciates financial donors, investors and partners who support Ukrzaliznytsia and provide irrevocable financial assistance,” the company’s website says.
