OTP Bank in Romania announces its participation in the Woman Manager 2022-2027 governmental program, implemented by the Ministry of Entrepreneurship and Tourism. The program provides for the granting of non-refundable financial aid from the state within the maximum limit of RON 200 thousand (approx. EUR 41 thousand), the amount that can represent a maximum of 95% of the value of eligible expenses (including VAT for non-paying companies) related to the project.
SMEs will be able to obtain non-refundable funds of a maximum of RON 200 thousand (approx. EUR 41 thousand) under this program, the main eligibility criterion being that at least one of the associates is a woman and owns at least 50% of the company’s shares.
After the project is evaluated and selected for state funding, OTP Bank Romania offers applicants the opportunity to request abridge financing of 100% of the non-refundable financial aid, which can be guaranteed up to 80% of the loan value by the National Credit Guarantee Fund for Small and Medium Enterprises/other guarantee funds, as the case may be.
“I am glad that the local business environment has visibly advanced in terms of gender diversity and the share of female entrepreneurs. Currently, approximately 40% of the shareholders of local companies are women. However, we still have a long way to go in the direction of promoting women in management positions. For OTP Bank, this aspect is very important, which is why we have carried out numerous initiatives to combat gender stereotypes, such as the GirlPower mentoring program. Thus, the decision to join the Woman Manager program, which perfectly aligns with OTP Bank’s values, came naturally. Through this partnership, we want to actively participate in the development of small and medium-sized enterprises and support the evolution of the female entrepreneurial environment in Romania,” – said Roxana Hidan, Deputy General Manager of Business Division, OTP Bank Romania.
The estimated budget for the period 2022-2027 is RON 1 billion (approx. EUR 205 million). By the end of the year, the number of 785 beneficiary companies is estimated.
The details about OTP Bank Romania products can be found here.
Source: the Bank`s press release dated August 23, 2022