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IFC claims USD 69mn from Vojvodjanska banka

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.

(IntelliNews 26.v.03)

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