According to the bank website, the Project entails an IFC investment of up to US$20 million to a Private Credit Special Situations fund (Greenpoint Capital Special Situations Credit Fund or the Greenpoint Fund) with a target size of US$100 million (the rest to be mobilized), in partnership with Greenpoint Capital (Greenpoint), an experienced private credit fund manager (the Project). The Greenpoint Fund will deploy capital to financially stressed but otherwise viable operating companies in Southern Africa, making them more resilient and preserving jobs.
The most significant expected Project-level outcome is to provide financially stressed but otherwise viable mid-market enterprises with flexible funding solutions to strengthen the capital structure and consequently preserve jobs. IFC also anticipates that the Project has the potential to promote greater market competitiveness via demonstration and replication channels.
Project contacts not available at the time of disclosure.
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ACCOUNTABILITY MECHANISM OF IFC/MIGA
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