NLB Group Mandatory Reserves Coverage (MIGA-14537)

Countries
  • Macedonia
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
Jun 11, 2020
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
Nova Ljubljanska banka d.d.
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)
$ 98.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 90.76
Converted using 2020-05-11 exchange rate.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jun 15, 2020

Disclosed by Bank May 11, 2020


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Project Description

According to MIGA website, the guarantee aims to help NLB Group reduce the risk of some of its assets, which would lead to a reduction in the NLB d.d., Ljubljana’s RWA on a consolidated basis. The RWA capacity that is freed up is expected to help NLB Skopje to maintain the supply of credit at a time of unprecedented pressure due to the COVID crisis, thereby alleviating the deleveraging risks and supporting employment in the country. 

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

International Finance Corporation

2121 Pennsylvania Avenue NW

Room F11K-232

Washington, DC 20433 USA

Tel: 1 202 458 1973

Fax: 1 202 522 7400

E-mail: cao-compliance@ifc.org 

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/