DARP Intrum (IFC-40344)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Greece
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
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 13, 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
DARP Intrum SPV
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)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 92.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 75
Converted using 2018-03-13 exchange rate.
Project Cost (USD)
$ 185.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 150
Converted using 2018-03-13 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 3, 2018

Disclosed by Bank Mar 13, 2018


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Project Description

This project establishes a co-investment facility with Intrum Justitia AB to support the acquisition and resolution of consumer unsecured and small business non-performing loans. The aim of this project is to support Greek banks, provide liquidity for new lending in the Grek economy, and mobilize funding from the private sector.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

For this project, IFC is partnering with Intrum Justitia AB. Intrum is a leading European credit service management company, domiciled in Sweden. The company has more than 100 years of operating history, has a presence in 24 countries across Europe and employs approximately 8,000 staff. Intrum is listed on Nasdaq Stockholm Large Cap and its shareholders represent a diversified base of institutional and private investors.

Contact Information

Intrum Justitia AB (publ) 
Michael Ladurner 
Group Business Development Director 
+49 175 9718815 
michael.ladurner@lindorff.com 
Lindorff, Donnersbergstr. 1, DE-64646, Heppenheim 
www.intrum.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/