• India
Where the impacts of the investment may be experienced.
Specific Location
Gurgaon, Haryana
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Bank Risk Rating
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.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 71.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 29, 2019

Disclosed by Bank May 8, 2018

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Project Description

 The proposed project consists of investment in Security Receipts (SR) issued by one or more trust(s) set up by Encore Asset Reconstruction Company Private Limited (EARC) and in non-convertible debentures issued by EARC. The poject aims to help defaulted retail/MSME (Micro, Small, and Medium Enterprise) debtors in India to get back into the credit system and thus regain access to much needed finance.

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

Encore Capital Group (ECG) is the main sponsor of the Encore Asset Reconstruction Company. ECG is a US-based NASDAQ listed company and together with its subsidiaries, provide debt recovery solutions and other related services for consumers across a range of financial assets worldwide.

Contact Information

For inquiries about the poroject

Encore Asset Reconstruction Company Private Limited 
Akshay Saxena 
Director Legal & Business Affairs, Encore India 
+91-124-4530300, Extn. 2137 
15th Floor, Eros Corporate Tower, Nehru Place, New Delhi - 110019, INDIA 

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


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/