Overview

CDB provides EUR 25 million loan to Serbia's Postal Savings Bank for on-lending activities

Commitments (Constant USD, 2023)$29,062,841

Commitment Year•2019Country of Activity•SerbiaDirect Recipient Country of Incorporation•SerbiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 12, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned Banks

Serbia Postal Savings Bank

Loan description

CDB provides EUR 25 million loan to Serbia's Postal Savings Bank for on-lending activities

Interest type•Unknown

Narrative

Full Description

Project narrative

On April 11, 2019 and April 12, 2019, the eighth 16+1 summit was held in Dubrovnik in Croatia, during which China Development Bank (CDB) issued an EUR 25 million loan to Postal Savings Bank (Banka Poštanska Štedionica) — a state-owned bank in Serbia — for on-lending activities. The loan was one of approximately 40 bilateral agreements signed during a series of bilateral meetings with representatives of countries from Central and Eastern Europe.

Staff comments

1. One source refers to a second CDB loan to Banka Poštanska Štedionica (https://www.dropbox.com/s/sphbfdxyji3jyjw/Branislav%20Maric%20%28Profile%29%20-%20Kinstellar.pdf?dl=0). This issue warrants further investigation.