IDLC Finance (IFC-38777)

Countries
  • Bangladesh
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
Active
Bank Risk Rating
FI
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
Apr 20, 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
IDLC Finance Limited
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 9, 2019

Disclosed by Bank Feb 26, 2018

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

Project Description

According to the IFC website, the project consists of senior financing to IDLC Finance Limited. The investment will be utilized by IDLC for supporting affordable housing finance for purchase/construction & extension of house to individuals under low and medium income group in Bangladesh.

The objectives of the proposed project are:

1. Creating a new asset class and improving access to finance: A commercially viable affordable housing finance product can open up a new frontier segment for financial institutions contributing to the financial sector development and improving access to finance especially in the lower income segments.

2. Job creation: By supporting the expansion of housing finance this project will also contribute to job creation in Bangladesh.

Investment Description
  • International Finance Corporation (IFC)
Financial Intermediary
Private Actors
Private Actors Description

IDLC Finance Limited engages in investment banking, discretionary portfolio management, and margin lending activities in Bangladesh. It offers small and medium enterprise (SME) finance products, such as SME loans/leases, seasonal and women entrepreneur loans, SME Shachal loans and revolving short term loans etc. 

Contact Information

For inquiries about the project

IDLC Finance Limited
Mr. Mohammad Jobayer Alam
Head-Treasury & Strategic Planning
+880 (2)8834990
jobayer@idlc.com
57 Gulshan Avenue, Gulshan-1
www.idlc.com

For inquiries and comments about IFC

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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/