CommerceBank d.d.

MIGA has provided €1.2 million in reinsurance ($1.05 million) to the Slovene Export Corporation (SEC) for the insurance it has provided to Banka Domzale d.d. of Slovenia for its equity investment in Commercebank d.d. in Bosnia and Herzegovina. The coverage is for a minimum of three years, and is against the risks of transfer estriction, expropriation and war and civil disturbance.

This is MIGA's first transaction supporting a Slovene investor, and its first supporting SEC. SEC requested MIGA's participation in the project for portfolio and capacity reasons, and it is hoped that the cooperation on this project will set the stage for the two organizations to do more joint projects in the future, especially in southeast Europe, where Slovene investors are very active. By supporting SEC, MIGA is fulfilling its mandate to cooperate with and complement the operations of national entities of member countries that are carrying out similar activities.

The main objective of the project is to expand and strengthen Commercebank's general banking activities in the country. In particular, lending activities will focus on increasing the availability of financing to small- and medium sized enterprises, and general banking services.