DIFK - Second Standby Credit Line (EBRD-48797)

Countries
  • Kosovo
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
Dec 14, 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
Deposit Insurance Fund of Kosovo
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 Amount (USD)
$ 25.50 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 24,000,000.00
Converted using 2016-12-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 4, 2017

Disclosed by Bank Dec 22, 2016


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Project Description
The EBRD is providing a standby credit line in the amount of up to EUR 24 million to the Deposit Insurance Fund of Kosovo (DIFK), fully guaranteed by the Republic of Kosovo.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
DEPOSIT INSURANCE FUND OF KOSOVO is an independent public institution established in June 2011 under the Law on The Establishment of a Deposit Insurance System for Financial Institutions in Kosovo. The Fund enjoys operational and administrative autonomy and functions outside the framework of the Kosovo government structures and the Kosovo civil service. Its objective is to protect small depositors from losses in case of a bank failure as well as to support the Central Bank of Kosovo in meeting its objective to foster the soundness, solvency and efficient functioning of a stable, marketbased financial system.
Contact Information
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.