SPV SistemCobro (IFC-41526)

Regions
  • Latin America and Caribbean
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
May 15, 2019
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
SISTEMCOBRO S A S
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
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 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)
$ 60.00 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 Jun 10, 2019

Disclosed by Bank Apr 12, 2019


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

Project Description

As part of the Distressed Asset Recovery Program (“DARP”), IFC, and SistemCobro S.A.S. (“SC”), a Colombian distressed asset investor and servicer, propose to create a Platform (“SPV”) to purchase Non-Performing Loans (“NPLs”) in the Andean region and Central America (“Target Region”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information
John Fredy Linares Gómez 
Executive Vice-president 
+57 1 749500 Ext.1003 
j.linares@sistemcobro.com 
Avenida de las Américas No.58-51, Bogota, Colombia 
https://www.sistemcobro.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/