According to SeeNews, IFC (International Finance
Corporation) proposed to recapitalize Cacanska Banka with an equity investment of up to 20% of the bank's value and a loan of up to 7 million euro.
- The total cost of the project is estimated at about 17 million euro - IFC, the World Bank's private investment arm, said in a statement on its website.
The project is a joint effort of international financial institutions aimed at strengthening Cacanska's capital base, and thereby improving its competitive position and enabling it to bear likely stresses on asset quality in view of the financial crisis, IFC said.
IFC will provide additional capital in order to enable approval of loans to small and mid-sized enterprises.
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