DARP

Download the press release here.

Omni Bridgeway and the International Finance Corporation (IFC), part of the World Bank Group, have established an investment partnership and technical expertise centre – based in Dubai – aimed at Distressed Asset Recovery and Dispute Resolution Funding in the Middle East, North Africa and Central Asia regions.

The project – called MENA DARP – is part of the global Distressed Asset Recovery Program (DARP) of IFC.

MENA DARP is aimed at assisting banks in the Middle East, North Africa and central Asia regions with the funding and cross border legal enforcement of high value (> USD 2 million) corporate non-performing loans (NPL’s).

The MENA DARP project allows banks to partially sell or monetize their non-performing loans and to use the unique expertise of Omni Bridgeway in global asset tracing, funding and management of international legal enforcement proceedings for such NPL’s.

The initial tranche of MENA DARP aims and allows for a non-performing loans, distressed assets and legal claims portfolio in excess of USD 1 billion in nominal value.

darp omnibridgeway group photo

Above: The IFC and Omni Bridgeway teams at signing.

The initiative is pioneering dispute resolution funding and legal enforcement expertise in the MENA region, and builds on the 30-year track record and expertise of Omni Bridgeway as the leading specialist in funding and managing cross border legal (enforcement) proceedings in the Middle East, (North) Africa and (Central) Asia regions. The project reinforces Omni Bridgeway’s position as the leading enforcement funding specialist. IFC is the largest global development institution focused exclusively on the private sector in developing countries

 

Countries

MENA DARP actively focuses on: Pakistan, Egypt, Morocco, Tunisia, Turkey, Greece and Lebanon.

In addition, the following countries are pre-approved for review of potential DARP opportunities:

Albania – Bosnia & Herzegovina – Bulgaria – Kosovo – Former Yugoslav Republic of Macedonia – Montenegro – Poland – Romania – Serbia – Afghanistan – Algeria – Armenia – Azerbaijan – Belarus – Georgia – Iraq – Jordan – Kazakhstan – Kyrgyz Republic – Moldova – Oman – Syrian Arab Republic – Tajikistan – Tunisia – Turkmenistan – Ukraine – Uzbekistan – West Bank & Gaza – Republic of Yemen

 

Contacts

For further information, please contact:

Mateen Beg
Director MENA DARP (Dubai office)
beg@omnibridgeway.com

Raymond Hulst
Managing Director – Partner of Omni Bridgeway (Geneva / Dubai office)
vanhulst@omnibridgeway.com