DARP NPL EOS IV (IFC-51891)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bosnia and Herzegovina
  • Bulgaria
  • Croatia
  • Poland
  • Romania
  • Serbia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 15, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
EOS Holding GmbH
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 232.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 200
Converted using 2026-01-15 exchange rate.
Project Cost (USD)
$ 465.43 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 400
Converted using 2026-01-15 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 15, 2026

Disclosed by Bank Dec 8, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the Distressed Asset Recovery Program (DARP) facility (the Facility) is to invest in distressed assets across Bosnia & Herzegovina (BiH), Bulgaria, Croatia, Poland, Romania, and Serbia (the Target Markets). Target distressed assets include retail and SME/corporate non-performing loans (NPLs), real estate owned (REOs) by FIs, and special situation loans (Special Situation Loans) to stressed or distressed companies backed by real estate collateral (collectively, the Target Assets). 100% subsidiaries of EOS Holding GmbH (EOS or the Sponsor) will co-invest alongside IFC and local subsidiaries of the Sponsor (collectively, Local Asset Managers) will service the Target Assets. The Facility will have total capital commitments of €400 million in form of pari-passu equity (up to 50% by IFC; up to 50% by the Sponsor).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the IFC, the Facility involves capital commitments of up to €400 million by IFC and EOS to invest in Target Assets in BiH, Bulgaria, Croatia, Poland, Romania and Serbia. The proposed investment involves an IFC equity investment of up to €200 million in the Facility. 

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, EOS is a distressed assets investor and servicer with more than 50 years of experience, with headquarters in Germany. EOS focuses on pricing, acquiring and managing NPL portfolios and REOs, being one of the leading players in the distressed assets market of several European countries and with expertise in both secured and unsecured retail and SME/corporate NPLs. EOS is 100% owned by Otto Group, a German group engaged in retail, e-commerce and services.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Financial Intermediary - EOS Holding GmbH:

Mr. Carsten Tidow - Managing Director / Member of the Board of Directors
Phone: +49 151 1823 7988
Email: c.tidow@eos-solutions.com
Address: Steindamm 71, 20099 Hamburg, Germany
Website: https://de.eos-solutions.com/en/

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

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

How it works

How it works