Summary of Proposed Investment
Project Number
10123
Company Name
KOMERCIJALNA BANKA A.D.
Date SPI Disclosed
May 9, 2000
Country
North Macedonia
Industry
Financial Markets
Projected Board Date
Jun 25, 2000
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Dec 20, 2000
Signed : Jun 22, 2001
Invested : Aug 7, 2001
Project Description
Komercijalna Banka is a commercial bank, lending to both larger clients as well as small- and medium sized enterprises (SMEs). The bank provides most standard banking services such as deposit taking, trade related financial services, working capital loans, medium-term loans, letters of credit and guarantees. The project consists of a Euro5 million loan package for onlending to SMEs for modernization/expansion needs and working capital. The project would have the dual objectives of easing the medium-term funding constraint of private sector enterprises, including SMEs, and at the same time supporting the institutional development of the FYR Macedonian banking sector, through the imposition of prudential financial covenants. The loan would also lengthen the average maturity of the funding base for Komercijalna Banka.
With the project IFC would play an important role as provider of medium-term capital to SMEs, a sector which is severely underserved with term investment capital. In addition IFC will help the bank in appraising the subprojects by providing technical assistance to the credit department and help the bank in establishing prudent lending guidelines by imposing financial covenants.
With the project IFC would play an important role as provider of medium-term capital to SMEs, a sector which is severely underserved with term investment capital. In addition IFC will help the bank in appraising the subprojects by providing technical assistance to the credit department and help the bank in establishing prudent lending guidelines by imposing financial covenants.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
mzacho@ifc.org