Albanian Deposit Insurance Agency - II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a stand-by credit line to the Albanian Deposit Insurance Agency (ADIA) in the amount of up to EUR 100 million, which will be available for 2 years and fully guaranteed by the Government of Albania. ADIA would be able to drawdown funds from this credit line under certain pre-agreed conditions with the purpose of making funds available, make payments or transfers in respect of insured deposits in accordance with the law in Albania.

Project ID 52468

Status Cancelled

Location

Albania

Business Sector

Financial Institutions

Notice Type

State

Company Contact Information

Arben Beja
abeja@asd.gov.al
+35542326989
www.asd.gov.al
Rr. Elbasanit, Pallati Edil Al It, No 317 Tirana, Albania

Project ID 52468

Status Cancelled

Location

Albania

Business Sector

Financial Institutions

Notice Type

State

Environmental Category

Approval Date

10 Mar 2021

Disclosure date

12 Mar 2021

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

Project objectives

The project will enable ADIA to put in place adequate emergency funding arrangements in order to maintain high confidence in the financial sector and to provide an efficient and credible protection for depositors in Albania.

Transition impact

ETI Score:70

expected transition impact of the project steams from its contribution to the Resilient and Well-governed transition qualities:

The project will contribute to the Resilient quality through putting in place emergency funding, which will strengthen ADIA's ability to withstand any potential bank and SCA failures in the context of the COVID-19 crisis and continue maintaining high confidence in the Albanian banking sector.

The project will also support the Well-governed quality through a comprehensive technical assistance programme focused on strengthening ADIA's operational capacity and governance by fully automating the pay-out process, by modernising the internal reporting system and by laying the foundations for introduction of a risk based premium approach.

Client information

DEPOSIT INSURANCE AGENCY OF ALBANIA

ADIA was founded in 2002 as an independent public institution with the adoption of the Deposit Insurance Law. ADIA has a two-tier board structure consisting of a Governing Council and the General Director of the agency. The Board of Directors comprises five members.

EBRD Finance Summary

EUR 100,000,000.00

Total project cost

EUR 100,000,000.00

Additionality

Additionality is generated from the financing structure, risk mitigation and knowledge, innovation and capacity building. The project will provide emergency back-up financing of a significant amount and specific structure. The project mitigates economic and country risks by supporting confidence in the financial system, as well as by ensuring timely pay-out of deposits through the TC element, improving operational capacity and capabilities.

Environmental & Social Summary

Categorised FI (ESP 2019). This is a Deposit Protection transaction with a previous client, ADIA. Since there are no adverse environmental and social issues associated with deposit insurance, environmental and social management systems as per PR9 are not required. ADIA will be required to comply with the 2019 E&S Policy, specifically PRs 2 and 4, and update their existing procedures to reflect this if necessary. The client will be required to report annually on environmental and social matters, with a main focus on PR 2 and 4 reporting.

Technical Cooperation and Grant Financing

A Technical Cooperation (TC) Programme comprising of two dedicated TC assignments will support ADIA's to (i) modernize and automate its pay-out and complaint management process through the upgrading and enhancement of its Data Collection and Reporting System and (ii) develop the internal capacity to introduce differential risk based premium.

Company Contact Information

Arben Beja
abeja@asd.gov.al
+35542326989
www.asd.gov.al
Rr. Elbasanit, Pallati Edil Al It, No 317 Tirana, Albania

PSD last updated

12 Mar 2021

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Albanian Deposit Insurance Agency - II

Overview

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)