PROJECT

Projects

Summary of Investment Information

Project Number

48366

Company Name

WELCOME DTC CO. LTD.

Date SPI Disclosed

Jan 24, 2024

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Mar 31, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 8, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : May 10, 2024
Signed : Jun 25, 2024
Invested : Dec 4, 2024

Sector

Distressed Assets SPV

Project Description

The proposed project entails an investment of up to US$30 million in form of a 5-year senior secured profit participation loan from IFC’s own account to a company to be established in Singapore by Welcome Creditline Corporation (“WCC”) and its affiliate Welcome Debt Trading Company Limited (“WDT” or the “Company”) to invest in nonperforming loan portfolios (NPL) portfolios in Viet Nam (the “Project”). The NPL investments will be managed by WDT with the objective to bring efficient NPL resolution and needed liquidity to the NPL market in Viet Nam.

                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation