WASHINGTON, Jan. 26, 2025—The Multilateral Investment Guarantee Agency (MIGA), which houses the World Bank Group Guarantee Platform, has issued a guarantee to unlock millions in new lending to small businesses, climate and green investments, and underserved populations in Serbia.
The three-year, €344.4 million guarantee to AikGroup of Cyprus will cover the risk of expropriation of mandatory reserves that its subsidiary, AikBank, holds at the National Bank of Serbia. The guarantee would enable approximately €422.1 million in new lending to the targeted groups.
This risk insurance product allows existing capital to be used more efficiently, turning idle reserves into new lending that actively contributes to the development of the local market and communities.
“This guarantee and our partnership with AikGroup demonstrate how MIGA is using our coverage to unlock additional lending capacity that will support private sector growth,” said Tsutomu Yamamoto, MIGA Managing Director.
By building on AikBank’s active role in strengthening the domestic business landscape, this partnership reflects a shared commitment to Serbia’s development agenda and the broader priorities of MIGA and the World Bank Group on financial inclusion, job creation, sustainable growth, and a more resilient banking sector, as well as the World Bank Group Gender Strategy 2024–2030.
“At AikGroup we believe that a strong banking system must actively support economic development. Through this partnership with MIGA, we are able to unlock additional lending capacity and ensure that accessible financing keeps driving sustainable growth,” said Razvan Muneanu, CEO of AikGroup. “At the same time, this partnership reflects the international recognition of AikGroup’s importance and long-term commitment to Serbia’s financial stability.”
About AikGroup
AIKGROUP Limited (formerly Agri Europe Cyprus Limited) is a leading financial holding company operating mainly in Southeast Europe. With a strong presence in Serbia, Slovenia, and other Southeast European markets, the Group employs over 3,000 full-time staff and operates an extensive branch network across the region, offering a full suite of financial services to both retail and corporate clients.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)
WASHINGTON, Jan. 26, 2025—The Multilateral Investment Guarantee Agency (MIGA), which houses the World Bank Group Guarantee Platform, has issued a guarantee to unlock millions in new lending to small businesses, climate and green investments, and underserved populations in Serbia.
The three-year, €344.4 million guarantee to AikGroup of Cyprus will cover the risk of expropriation of mandatory reserves that its subsidiary, AikBank, holds at the National Bank of Serbia. The guarantee would enable approximately €422.1 million in new lending to the targeted groups.
This risk insurance product allows existing capital to be used more efficiently, turning idle reserves into new lending that actively contributes to the development of the local market and communities.
“This guarantee and our partnership with AikGroup demonstrate how MIGA is using our coverage to unlock additional lending capacity that will support private sector growth,” said Tsutomu Yamamoto, MIGA Managing Director.
By building on AikBank’s active role in strengthening the domestic business landscape, this partnership reflects a shared commitment to Serbia’s development agenda and the broader priorities of MIGA and the World Bank Group on financial inclusion, job creation, sustainable growth, and a more resilient banking sector, as well as the World Bank Group Gender Strategy 2024–2030.
“At AikGroup we believe that a strong banking system must actively support economic development. Through this partnership with MIGA, we are able to unlock additional lending capacity and ensure that accessible financing keeps driving sustainable growth,” said Razvan Muneanu, CEO of AikGroup. “At the same time, this partnership reflects the international recognition of AikGroup’s importance and long-term commitment to Serbia’s financial stability.”
About AikGroup
AIKGROUP Limited (formerly Agri Europe Cyprus Limited) is a leading financial holding company operating mainly in Southeast Europe. With a strong presence in Serbia, Slovenia, and other Southeast European markets, the Group employs over 3,000 full-time staff and operates an extensive branch network across the region, offering a full suite of financial services to both retail and corporate clients.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)