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According to the IDB Invest, the proposed transaction consists of a revolving receivables purchase facility of up to US$50 million, through which Nokia Corporation will sell, under a non-recourse portfolio assignment scheme, credit rights arising from the delivery of digital solutions and services to corporate clients, subject to IDB Invest approvals.
Debtors will be notified of the assignment, and IDB Invest will directly receive the corresponding payments. The facility will not only provide flexible working capital to support Nokia's commercial expansion in key markets in the region, including Mexico, but will also facilitate a better value proposition in its commercial management vis-à-vis other unreliable technology suppliers.
The transaction also seeks to promote access to structured financing for technology suppliers in Latin America and the Caribbean.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Nokia OYJ | Client | - |
EMAIL: requestinformation@idbinvest.org
PHONE: +1(202)-566-4566
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request
ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).