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The IFC filed a claim for a total of USD 69mn from Vojvodjanska banka, one of Serbia’s largest banks. The claim derives from a USD 27mn loan that was disbursed back in the 1980s, but was never serviced.
According to one of the bank’s board members, Djordje Stojsic, the IFC had made a proposal to obtain a 20-50% stake in the bank, in case the government was unable to meet its arrears. This option, however, would mean that IFC could have a decisive vote in future privatisation projects, as the bank, set up as a development institution, has a say over the sale of state-owned enterprises.
Stojsic commented that there would be sought another solution, but the government could not afford to have interference of foreign institutions in such processes.
According to one of the bank’s board members, Djordje Stojsic, the IFC had made a proposal to obtain a 20-50% stake in the bank, in case the government was unable to meet its arrears. This option, however, would mean that IFC could have a decisive vote in future privatisation projects, as the bank, set up as a development institution, has a say over the sale of state-owned enterprises.
Stojsic commented that there would be sought another solution, but the government could not afford to have interference of foreign institutions in such processes.
(IntelliNews 26.v.03)
