Deposit Protection Fund Montenegro - Senior Line II (EBRD-51810)

Countries
  • Montenegro
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
Jul 23, 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
Deposit Protection Fund of Montenegro (DPFM)
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)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.39 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 50
Converted using 2021-01-18 exchange rate.
Project Cost (USD)
$ 60.39 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 50
Converted using 2021-01-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 18, 2021

Disclosed by Bank Aug 27, 2020


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Project Description

A senior loan of up to EUR 50 million in the form of a Standby Credit Line (SBCL) in favour of Deposit Protection Fund of Montenegro (DPFM), an independent public institution, fully guaranteed by the state of Montenegro. As a stand-by credit line, the EBRD finance is designed to provide immediate funds to DPFM under certain pre-agreed conditions in order to support pay-outs of insured deposits in case of bankruptcy or resolution of a member bank in Montenegro. The new facility will replace the existing SBCL of EUR 30 million, so that the DPFM continues to have a back-up liquidity line.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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