RBI Central Bank Mandatory Reserves Coverage (MIGA-12892)

Countries
  • Albania
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 30, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Raiffeisen Bank International AG
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 174.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 28, 2019

Disclosed by Bank Feb 21, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to MIGA website, the project covers equity investments by Raiffeisen Bank International AG (RBI) in its subsidiary in Albania, Raiffeisen sh. a. (Raiffeisen Albania). The investor has applied for a MIGA guarantee of up to €142.5 million ($174.5 million equivalent) for a period of up to five years in connection with the reserves held by the subsidiary with the local central bank. The project is expected to support RBI’s overall business strategy in Albania. MIGA’s guarantee allows RBI to achieve RWA relief at the group consolidated level and provide the enabling conditions to the parent bank to pass the benefits of this support to its operating subsidiaries.

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors

Vienna-based RBI is a universal banking group that has operated for over 30 years in Central, Eastern and Southeastern Europe (CEE). It is present in 15 markets with a network of retail banks across CEE.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/