Summary of Proposed Investment
Project Number
24991
Company Name
OTP Bank Nyrt.
Date SPI Disclosed
Apr 21, 2006
Country
Hungary
Industry
Financial Markets
Projected Board Date
May 25, 2006
Status
Completed
Sector
Commercial Banking - Risk Mgmt Facility
Department
Regional Industry FIG LAC & EUR
Environmental Category
C - No Impact
Previous Events
Approved : Jun 6, 2006
Signed : Jun 20, 2006
Project Description
The proposed project entails an IFC investment of up to $125 million local currency equivalent in a Risk Sharing Facility with OTP Bank Hungary (“OTP”) to support up to $250 million local currency equivalent in energy efficiency improvement loans for local institutions in Hungary. The project is also co-funded by a grant of $2.5 million from the World Bank Group Global Environment Facility. The proposed project would be implemented in the context of the Government of Hungary’s “Szemunk Fenye” Program. The Program is designed to facilitate lighting and heating renovations and improvements in state-supported local institutional schools, as well as other municipally supported facilities.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Ms. Jolan Balla CSOMOSNE
Deputy Senior Head of Department, Corporate Customer Relations and Product Development Directorate
OTP Bank,
16. Nador Street, H-1876 Budapest, Hungary
Deputy Senior Head of Department, Corporate Customer Relations and Product Development Directorate
OTP Bank,
16. Nador Street, H-1876 Budapest, Hungary