GTSF - Pirelli (IFC-32804)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 21, 2010
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PIRELLI&C. SPA
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2018

Disclosed by Bank Apr 19, 2013


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The proposed project (the "Project") is to further extend an existing partnership with BNP Paribas ("BNPP") under IFC's Global Trade Supplier Finance program ("GTSF" or the "Program"), approved by the IFC Board in September 2010 (Original Project Link #28723), to provide financing to rubber suppliers to Pirelli International Limited ("Pirelli" or the "Buyer") procured from Indonesia and/or Thailand.Under the terms of this proposed investment, IFC would purchase a pro rata interest in receivables due from Pirelli to Utexam Solutions Limited (a subsidiary of BNP Paribas Ireland). Utexam Solutions Limited purchases rubber from Indonesian and Thai suppliers for sale to Pirelli. The Project, therefore, increases access to finance for suppliers and facilitates immediate improvement in their cash flow.

 

Investment Description
  • International Finance Corporation (IFC)
Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/