| Project Detail |
Location:
Slovenia
Project number:
44324
Business sector:
Other
Notice type:
Private
English-language PSD published:
03 Dec 2024
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed
The Bank, in 2019, approved participation in the EUR 55 million public offering by Pozavarovalnica Sava d.d. (Sava Re) for up to EUR 10 million, best to support equity capital raising in difficult market conditions, particularly given concerns regarding the political situation in Slovenia at the time of the proposed transaction.
Project Objectives
The transaction was to support Sava Re raise equity capital under difficult market conditions and assist in development of markets in the former Yugoslav republics where insurance penetration was low; particularly in light of the on-going concerns about Slovenia’s political situation at the time coupled with the instability of the banking and insurance sector. |
