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.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
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.
Intrum Justitia AB (publ)
Group Business Development Director
+49 175 9718815
Lindorff, Donnersbergstr. 1, DE-64646, Heppenheim
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/