World Bank launches distressed assets programme
The International Finance Corporation (IFC) – the private-sector financing arm of the World Bank – has launched the Debt and Asset Recovery Programme (Darp), an initiative to free-up credit flows in middle-income and developing economies by purchasing distressed assets and restructuring debt.
The IFC will contribute up to $1.55 billion to the programme over the next three years, and aims to raise around $4–5 billion in additional capital from other international financial institutions and the
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