Deposit Insurance Strengthening Project

Abstract*

The objective of the Deposit Insurance Strengthening Project for Serbia is to strengthen the financial and institutional capacity of the Deposit Insurance Agency (DIA), so as to enable it to meet its deposit insurance and bank resolution obligations and serve as a core part of financial sector safety net. The project consists of two components: 1) strengthen the financial capacity of the DIA; and 2) strengthen the institutional capacity of the DIA... Show More

Development Objective

The project development objective is to strengthen the financial and institutional capacity of the Deposit Insurance Agency, so as to enable it to meet its deposit insurance and bank resolution obligations and serve as a core part of financial sector safety net.

Key Details

Project Details

Project ID
P146248
Status
Closed
Team Leader
Birgitte Berg
Borrower 2
Republic of Serbia

Country
Serbia
Disclosure Date
December 26, 2013
Approval Date
(as of board presentation)
February 25, 2014
Effective Date
November 26, 2014

Total Project Cost 1
US$ 200.00 million
Implementing Agency
Deposit Insurance Agency
Region
Europe and Central Asia
Fiscal Year 3
2014

Commitment Amount
US$ 200.00 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2017

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
June 17, 2020

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Stability100%
- FY17 - Financial Sector Integrity50%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring50%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	200.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	200.00
IDA Commitment	N/A
IBRD + IDA Commitment	200.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	200.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 25, 2014	IBRD-83400	Loan Commitment	200,000,000.00
Apr 15, 2024	IBRD-83400	Int Charges	12,693.93
Apr 15, 2024	IBRD-83400	Loan Repay	158,592.39
Oct 15, 2023	IBRD-83400	Int Charges	13,948.16
Oct 15, 2023	IBRD-83400	Loan Repay	156,523.86
Apr 15, 2023	IBRD-83400	Int Charges	11,312.37
Apr 15, 2023	IBRD-83400	Loan Repay	164,567.31
Oct 15, 2022	IBRD-83400	Int Charges	618.53
Oct 15, 2022	IBRD-83400	Loan Repay	144,871.62
Apr 15, 2022	IBRD-83400	Int Charges	60.67
Apr 15, 2022	IBRD-83400	Loan Repay	160,854.38
Apr 15, 2021	IBRD-83400	Int Charges	170.33
Apr 15, 2021	IBRD-83400	Loan Repay	178,049.98
Oct 15, 2021	IBRD-83400	Int Charges	74.33
Oct 15, 2021	IBRD-83400	Loan Repay	172,796.80
Dec 16, 2019	IBRD-83400	Loan Repay	69,547,528.00
Apr 15, 2020	IBRD-83400	Int Charges	16,469.87
Apr 15, 2020	IBRD-83400	Loan Repay	162,327.66
Oct 15, 2020	IBRD-83400	Int Charges	2,874.54
Oct 15, 2020	IBRD-83400	Loan Repay	174,381.69
May 2, 2018	IBRD-83400	Loan Cancel	1,481.83
Oct 15, 2018	IBRD-83400	Int Charges	171,326.16
Apr 15, 2019	IBRD-83400	Loan Repay	79,177,000.00
Apr 15, 2019	IBRD-83400	Int Charges	182,790.88
Apr 15, 2019	IBRD-83400	Loan Repay	6,327,376.00
Oct 15, 2019	IBRD-83400	Int Charges	105,389.84
Oct 15, 2019	IBRD-83400	Loan Repay	6,162,353.00
Oct 15, 2016	IBRD-83400	Int Charges	185,653.28
May 5, 2016	IBRD-83400	Loan Disb	75,144.23
May 26, 2016	IBRD-83400	Loan Disb	68,224.38
Nov 28, 2016	IBRD-83400	Loan Disb	138,461.27
Jul 12, 2016	IBRD-83400	Loan Disb	70,074.27
Jul 12, 2016	IBRD-83400	Loan Disb	22,182.00
Jan 27, 2017	IBRD-83400	Loan Disb	42,774.00
Sep 9, 2016	IBRD-83400	Loan Disb	139,525.48
Feb 27, 2017	IBRD-83400	Loan Disb	51,709.70
May 3, 2017	IBRD-83400	Loan Disb	158,982.81
Jun 28, 2017	IBRD-83400	Loan Disb	210,959.34
Mar 28, 2017	IBRD-83400	Loan Disb	60,891.70
Apr 15, 2017	IBRD-83400	Int Charges	163,060.40
Apr 15, 2017	IBRD-83400	Int Charges	34.41
Oct 15, 2017	IBRD-83400	Int Charges	22.81
Oct 15, 2017	IBRD-83400	Int Charges	174,322.75
Oct 13, 2017	IBRD-83400	Loan Disb	111,180.25
Aug 24, 2017	IBRD-83400	Loan Disb	109,848.85
Apr 15, 2018	IBRD-83400	Int Charges	9,118.64
Apr 15, 2018	IBRD-83400	Int Charges	171,974.77
Dec 22, 2017	IBRD-83400	Loan Disb	38,290.69
Dec 29, 2014	IBRD-83400	Loan Disb	66,431,484.00
Nov 26, 2014	IBRD-83400	Loan Disb	452,337.06
Nov 26, 2014	IBRD-83400	Fee Charges	452,337.06
Dec 8, 2014	IBRD-83400	Loan Disb	66,829,260.00
Mar 11, 2015	IBRD-83400	Loan Disb	211,480.00
Oct 15, 2015	IBRD-83400	Int Charges	261,034.10
Apr 15, 2015	IBRD-83400	Int Charges	181,406.80
Dec 29, 2015	IBRD-83400	Loan Disb	119,181.32
Oct 15, 2015	IBRD-83400	Int Charges	106.71
Apr 15, 2016	IBRD-83400	Int Charges	285,738.97
Mar 29, 2016	IBRD-83400	Loan Disb	111,145.56
Dec 22, 2015	IBRD-83400	Loan Disb	37,481,488.00
Feb 1, 2016	IBRD-83400	Loan Disb	66,478.44
Oct 7, 2016	IBRD-83400	Loan Disb	84,898.21
Oct 15, 2016	IBRD-83400	Int Charges	19.60

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Satisfactory	2017-05-09
Progress towards achievement of PDO	Satisfactory	2017-05-09
Procurement	Satisfactory	2017-05-09
Project Management	Satisfactory	2017-05-09
Financial Management	Satisfactory	2017-05-09
Monitoring and Evaluation	Satisfactory	2017-05-09

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-09-2018
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 09-19-2018	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance	Not Rated	N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Cumulative inflows into the Deposit Insurance Fund equivalent to 2.5 percent insured deposits Value 0.00 2.50 3.40
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment
DIA performing its legally mandated technical functions in any future bank failures in which DIF resources are utilized Value No Yes Yes
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Premium Rate Value 0.40 0.40 0.60
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment
Number of Independent Board Members Value 0.00 3.00 3.00
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment
Sharing of NBS risk information on problematic banks with DIA Value No Yes Yes
Date December 31, 2013 June 30, 2017 December 29, 2017
Comment
Sharing of NBS Supervision Conclusions on Problematic Banks with DIA Value No Yes Yes
Date December 31, 2013 June 30, 2017 December 29, 2017
Comment
Information Collected by the MoF on State Owned Banks. Value No Yes Yes
Date December 31, 2013 June 30, 2017 December 29, 2017
Comment
Regular government financial stability committee meetings Value 0.00 8.00 8.00
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment
Stand-by funding available for DIF Value EUR 0 EUR 0 EUR 0
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment
Cumulative value recovered from bank bankruptcies since February 1, 2014 Value EUR 0m EUR 110m EUR 219m
Date December 31, 2013 June 30, 2016 December 29, 2017
Comment

Cumulative inflows into the Deposit Insurance Fund equivalent to 2.5 percent insured deposits	Value	0.00	2.50	3.40
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment

Premium Rate	Value	0.40	0.40	0.60
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment

Number of Independent Board Members	Value	0.00	3.00	3.00
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment

Stand-by funding available for DIF	Value	EUR 0	EUR 0	EUR 0
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment

Cumulative value recovered from bank bankruptcies since February 1, 2014	Value	EUR 0m	EUR 110m	EUR 219m
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment

DIA performing its legally mandated technical functions in any future bank failures in which DIF resources are utilized	Value	No	Yes	Yes
	Date	December 31, 2013	June 30, 2016	December 29, 2017
	Comment