PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

581707

Primary Business Area

Investment Climate

Disclosure Date

Dec 29, 2011

Country

Bangladesh

Region

South Asia

IFC Approval Date

Jun 24, 2011

Status

Active

Estimated Total Budget

$2,832,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2016

Project Estimated Start Date

Jul 1, 2011

Project Description

The project develops and promotes efficient out-of-court settlement mechanisms to help resolve debt-related cases, such as financial, commercial, and tax disputes, in Bangladesh. The objective is to free up private capital and government revenue, thereby returning value to the economy and improving the overall credit environment. Expected outcomes include: 1) reducing the time and cost for resolving commercial disputes by 50 percent, through ADR (alternative dispute resolution), as measured against resolving disputes through the courts; 2) improving nonperforming loan recovery rates by at least 10 percent; 3) freeing up funds that are tied up in commercial disputes, as measured by the amount of funds released through resolved disputes ($150 million); and 4) disposing of pending tax cases through arbitration, to release locked government revenue by at least 30 percent, amounting to $350 million.