OBS MFI (IFC-39302)

  • Europe and Central Asia
Where the impacts of the investment may be experienced.
  • Serbia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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
Aug 1, 2017
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.
Opportunity Bank Serbia
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 9.97 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 9.97 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 @ IFC website

Updated in EWS Aug 27, 2018

Disclosed by Bank Jun 13, 2017

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Project Description

According to IFC website, International Finance Corporation (IFC) proposed financing of up to EUR 8.5 million, local currency equivalent, is to support the Bank’s lending portfolio for the purpose of micro and small enterprises lending in local currency. The expected development impacts are:

1. Secure access to finance to underserved segments in the Serbian economy
2. Develop a positive economic impact by propping up economic growth, improving access to finance in economically and geographically excluded regions, generating new jobs and improving quality of life
3. Help the Bank reduce its foreign currency exposure, better manage assets and liabilities and improve its risk profile

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actors Description

Opportunity banka a.d. Novi Sad provides various financial services to individuals, small and medium size enterprises, and agricultural customers in Serbia and internationally. Opportunity Bank a.d. Novi Sad is a wholly-owned subsidiary of Opportunity Transformation Investments Inc., a holding company owned by charitable organization Opportunity International. 

Opportunity International operates through 39 microfinance institutions in Africa, Eastern Europe, Central and East Asia and Latin America. With a loan portfolio of US$1 billion, as of end of 2016, Opportunity International serves 14.3 million entrepreneurs in 24 countries around the world.


Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Opportunity International Inc. Parent Company -

Contact Information

Project Contact: Zorica Sedlar , CFO
Opportunity Bank a.d. Novi Sad
Telephone No.: +381.21.4893.170
Email Address: zsedlar@obs.rs
Office Address: Opportunity Bank A.D | Bul.Oslobodenja 2a | 21000 Novi Sad, Srbija
Website: www.obs.rs


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/