EBRD, loan for banking security
26/09/2013 00:00
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The European Bank for Reconstruction and Development declared that they
will give 100 million EUR of loan for the Albanian Agency of Deposit
Security.
This loan is given as a guarantee and can be used by the agency of deposits only in cases of a possible crisis in the banking system. The EBRD press release says that the goal of this loan is to prevent a possible failure of any bank and isolating it so that it doesn’t turn into a systematic danger for the entire system.
According to EBRD, this loan improves the indicator for covering deposits, guaranteeing a good protection for the clients and reinforcing this way the trust in the country’s financial system. According to the Albanian law, the Deposit Security Agency guarantees 100% of all savings for individuals up to 2.5 million ALL. For EBRD, the efficiency of the security schemes in deposits is considered a critical element for the financial system, helping in increasing the citizens’ trust on banks. EBRD says that this is even more important in Albania, since deposits are the main and dominating source for Albanian banks. “Through this loan EBRD contributes even more in the development of the financial market of Albania”, the EBRD announcement says.
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