Bulgarian Deposit Insurance Fund (EBRD-47163)

Countries
  • Bulgaria
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
Feb 10, 2016
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
Bulgarian Deposit Insurance Fund
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 336.71 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 EUR 300.00 million
Converted using 2016-02-10 exchange rate.
Project Cost (USD)
$ 673.43 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 600.00 million
Converted using 2016-02-10 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 17, 2017

Disclosed by Bank Sep 24, 2015


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Project Description
This project finances a long-term loan to the Bulgarian Deposit Insurance Fund to support the optimization its funding structure and ensure the long-term sustainability of its operations in order to support Bulgaria's efforts to enhance the country’s deposit insurance system.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The Bulgarian Deposit Insurance Fund is an independent public institution established under the Law on Bank Deposit Guarantee in January 1999. Its mission is to contribute to the stability of and confidence in the financial system in Bulgaria by providing bank deposits guarantee, assisting the efficient process of credit institutions restructuring, and protecting creditors’ interests in bank bankruptcy proceedings. It is domiciled in Bulgaria.
Contact Information
Client Company Contact Information Bulgarian Deposit Insurance Fund Tel: +359 2 917 2049; Fax: +359 2 952 1100 Email: contact@dif.bg ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.