PROJECT COMPLETION VALIDATION REPORT FINANCIAL SECTOR STABILISATION LOAN – DIVESTMENT OF COMMERCIAL BANK ST. VINCENT AND THE GRENADINES
Summary

In February 2010, GOSVG requested assistance from CDB for a loan in the amount of USD30-40 million (mn) to help stabilise the financial sector through the divestment of the publicly-owned commercial bank, National Commercial Bank (NCB). The St. Vincent and the Grenadines’ (SVG) financial sector is dominated by commercial banks which represent just under 70% of total financial sector assets (excluding National Insurance Scheme (NIS) assets). NCB, which is the target of this intervention, accounts for about 27% of financial sector assets and 40% of commercial bank assets.

 

 

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