DARP - OB (IFC-38071)

Regions
  • Africa
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
Proposed
Bank Risk Rating
U
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
Jan 15, 2018
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
OMNI BRIDGEWAY MENA SERVICER
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 23, 2019

Disclosed by Bank Nov 22, 2017


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Project Description

The project consists of establishing (i) a regional DARP Investment Vehicle for mobilizing private sector capital to acquire and manage an economic interest in pools of non-performing loans (“NPLs”) across several markets in Europe, Middle East & North Africa (“EMENA”) and (ii) a regional NPL servicer to service the acquired NPLs (the “Project”). For this purpose, IFC shall be co-investing with affiliates of Omni Bridgeway Holding B.V. (“OB Group”) in both the Investment Vehicle and the regional NPL servicer.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • OB Group -- Implementing Company

Established in 1986, the OB Group has developed into one of the leading companies in Non Perfoming Loan recovery and resolutions and is globally active with specific focus on CIS, Asia, Middle Eastern and Northern African countries. The group is privately owned, fully independent and has offices in Amsterdam, Geneva, Guernsey and Singapore. The OB Group is currently managed by four partners together with a multidisciplinary team of lawyers, finance, economics, insolvency specialists and asset researchers, managing approximately US$2 billion in NPL, asset and legal claims.

Contact Information

Omni Bridgeway Group
Mr. Raymond Van Hulst
Managing Director & Partner
+41228186301
vanHulst@omnibridgeway.com
Schiphol Boulevard 121, 1118 BG, Schiphol, Amsterdam, The Netherlands
www.omnibridgeway.com

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/