| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 403.20 |
Romania: Institutional Strengthening and Financial Safety Net Resilience Project
Abstract*
FGBD was created in August 1996, with the mission of insuring deposits held exclusively by individuals up to the amount of RON 1,000 (then equivalent to roughly USD 239). Over time, and especially after Romania joined the EU, coverage was extended in line with the applicable EU directives, and since December 2010 it is equivalent to EUR 100,000 and benefits not only individuals but also legal entities. There have been substantial improvements in terms... Show More
Development Objective
The Project Development Objective is to strengthen the institutional framework and financing mechanism for deposit protection and bank resolution in Romania.
Key Details
Project Details
P171039
Active
Matija Laco , Isfandyar Khan, Natalie Nicolaou
Bank Deposit Guarantee Fund (FGDB)
Romania
June 26, 2019
(as of board presentation)
December 19, 2022
June 28, 2023
US$ 452.00 million
Bank Deposit Guarantee Fund (FGDB)
2023
US$ 403.20 million
N/A
Low
June 30, 2028
No
BANK APPROVED
December 14, 2023
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 403.20 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 403.20 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 452.00 |
Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Nov 15, 2023 | IBRD-94630 | Int Charges | 846,059.50 |
| Aug 9, 2023 | IBRD-94630 | Fee Charges | 1,114,064.00 |
| May 15, 2024 | IBRD-94630 | Int Charges | 1,093,506.60 |
| Dec 19, 2022 | IBRD-94630 | Loan Commitment | 403,200,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2025-06-27 |
| Procurement | Satisfactory | 2025-06-27 |
| Financial Management | Satisfactory | 2025-06-27 |
| Monitoring and Evaluation | Satisfactory | 2025-06-27 |
| Overall Implementation Progress (IP) | Satisfactory | 2025-06-27 |
| Project Management | Satisfactory | 2025-06-27 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
If Eligible Event 1 occurs, number of days within which FGDB commences payout of guaranteed depositors from the occurrence of Eligible Event 1. Value Not applicable. Not Applicable. FGDB begins payout within 7 business days. Date November 23, 2022 December 13, 2023 June 30, 2028 Comment If Eligible Event 2 occurs, FGDB transfers the requested contribution for the financing of resolution within the specified deadlineset by the NBR in its decision. Value Not applicable. Not Applicable. FGDB transfers the requested contribution within N Date November 23, 2022 December 13, 2023 June 30, 2028 Comment In the absence of an eligible event, in the Funding Capability Test in accordance with the Revised EBA Guidelines, FGDB obtains a rating of at least 2 in items i25, i27, and i31. Value No No Yes Date November 23, 2022 December 13, 2023 June 28, 2028 Comment Maintain an effective Memorandum of Understanding among FGDB, NBR, and MoF. Value No Yes Yes Date November 23, 2022 December 13, 2023 June 30, 2028 Comment Increase FGDB's public awareness. Value 24.00 24.00 30.00 Date June 30, 2021 December 13, 2023 June 30, 2028 Comment Maintain public confidence. Value 50.00 50.00 50.00 Date June 30, 2021 December 13, 2023 June 30, 2028 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
FGDB undertakes at least one stress test. Value Yes Yes Yes Date November 23, 2022 December 13, 2023 June 30, 2028 Comment In the absence of an eligible event, FGDB maintains a minimum reserve ratio in compliance with the DGS/FGDB Law. Value Yes Yes Yes Date November 23, 2022 December 13, 2023 June 30, 2028 Comment