Nova Banka a.d.

completed

_x000C_The proposed transaction consists of a financing package of up to EUR 15 million to Nova Banka a.d., Bijeljina (Nova Banka or the Bank or company), a commercial bank in Bosnia and Herzegovina (BiH), operating predominantly in the less developed Republic of Srpska (RS). Alongside this financing, Nova Banka has requested IFC to consider supporting a technical assistance program involving training and consulting in specific areas to enable better service delivery to the Bank’s retail and corporate clients. Profitable and well-positioned, Nova Banka plans to accelerate its growth with the requested funds and technical assistance through on-lending to private small- and medium-sized enterprises (SMEs) and to the consumer retail housing sector. The Bank is facing growing needs from both companies and consumers for long-term financing. As the economy of BiH is still in the early stage of transition, the country has much need for the development of its SMEs and its medium-low income households. Consequently, the project is expected to have a high developmental impact on BiH.