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EBRD helps Montenegro to meet EU deposit protection standards

Published on: Nov 12, 2010 • 8:18 PM Author: Bureau

The EBRD approved a EUR 30 million loan to the Deposit Protection Fund of Montenegro (DPF), which will be used only in case a domestic bank goes into bankruptcy or receivership.

The DPF will now be able to increase the deposit insurance coverage in Montenegro from the current €20,000 to €50,000 by 2013, which is on the EU level, EBRD and DPF stressed.

As Marek Lorinc, Head of the EBRD office in Montenegro, said, this programme falls under EBRD’s key priorities in the region, and it is expected to improve the deposit insurance scheme by offering greater protection to small depositors, boost the financial sector in general and ensure the progress of the banking system.

His views were echoed by Predrag Markovic, Director of the Deposit Protection Fund, who expressed hope that this project will help boost the confidence of depositors that had been weakened by the economic downturn.

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