Translated version of this PSD: Serbian
The EBRD is considering providing a EUR 200 million credit line to the Deposit Insurance Agency of Serbia (DIA), fully guaranteed by the Republic of Serbia.
As a credit line the EBRD finance is designed to operate similarly to an insurance product. It would provide immediate funds to DIA, if and when required, to fulfill its mandate in compensating its depositors, but as a standby line would be substantially more cost effective than a loan.
The credit line will assist the DIA in the execution of its core mandate to enhance and sustain confidence in the banking sector through the management of the Deposit Insurance Fund (‘DIF’).
The credit-line will enhance stability and confidence in the financial sector in Serbia. Availability of the facility will be dependent on legislative changes with regards to the DIA’s mandate and bank resolution, moving Serbia towards international best practice.
Changes in terms of corporate governance will ensure that the DIA’s integrity and independence as a crucial actor in the financial safety net will be assured.
Institutional Capacity Building Programme is deemed crucial to support the reform of the DIA. A dedicated Institutional Building Programme will help the DIA to address technical deficiencies and provide necessary training in the areas of risk monitoring of banks to improve understanding of banking risks, corrective actions for problem banks & bank resolution options, managing the portfolio of bad assets and maximise value from the portfolio and training on PR and communication policies.
The DIA’s core mandate is to act as a manager of the deposit insurance fund and pay-out function. Additionally, the DIA is currently responsible for a number of other activities, such as the management and privatisation of state-owned financial institutions and bankruptcy management of insolvent financial institutions.
Up to EUR 200 million.
Up to EUR 200 million.
Categorised FI. The proposed transaction would involve a EUR 200 million credit line and extensive technical assistance to the Serbian Deposit Insurance Agency. There are no material environmental or social risks associated with the proposed project. The Agency will need to comply with the Bank’s PR2.
A diagnostic study was commissioned by the Bank to identify several areas with regards to institutional development and training needs in the DIA. The assignment was financed by the Luxembourg ODA Technical Co-operation Fund.
Based on the diagnostic study, EBRD will provide an institutional capacity building programme consisting of: 1) best practice structuring and organisation of the DIA; 2) on the ground support on asset management including asset valuation techniques, asset disposal optimisation & process review and 3) training of the staff.
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