29577 - Emergia LAC

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Summary of Proposed Investment

Project Number

29577

Company Name

EMERGIA CONTACT CENTER SL

Date SPI Disclosed

May 18, 2011

Country

Latin America and the Caribbean Region

Industry

Telecommunications and Technology

Projected Board Date

Jun 24, 2011

Status

Completed

Sector

Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)

Department

Gbl Infrastructure & Natural Resources

Environmental Category

C - No Impact

Previous Events

Approved : Mar 19, 2012
Signed : Jun 14, 2012
Invested : Aug 13, 2012

Project Description

Emergia Contact Center S.L. (“Emergia”) is a well established Business Process Outsourcing and Contact Center outsourcing company. The company started its operations in 2005 in Spain and, to date, has over 4,600 employees in 3 countries, as follows: Spain (2,000 employees), Colombia (1,500 employees) and Chile (1,100 employees). The Company is in the process of ramping up its operations in Latin America over the next 3 years by expanding its capacity in Colombia by 50% during 2011 and launching two new contact centers in Peru and Nicaragua in the period 2011-2013. Emergia has requested from IFC long term funding to help it finance this expansion.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	10.08
Equity

Development Impact

Positive social effects of Emergia are largely tied to increased employment opportunities, particularly in smaller university towns and for women, who represent 67% of Emergia's workforce. Employees at Emergia benefit from childcare facilities, 24-hour on site medic and other services largely unavailable locally. Emergia is typically an "anchor employer" in the smaller towns where it operates, employing hundreds of people and providing to many their first job. Some of these towns suffer from chronically high unemployment rates. A rise in employment and an ascending middle class has positive spillover effect in the local economic community. It is estimated that 4 indirect jobs are created from each direct job in the contact center industry.

Access to financing: IFC can provide long term funding otherwise unavailable for the technology service sector in Latin America due to the lack of collateral assets and the banking community's limited knowledge of the industry segment. Access to IFC's global expertise: IFC has accumulated considerable expertise on IT services and Business Process Ourtsourcing as a result of a number of investments it has made in the sector in recent years, an expertise that is unmatched in emerging markets and that Emergia appreciates and wants to tap into for its own benefit.

Emergia engages with landlords of existing buildings to refit them for call center and business process outsourcing services. The company has policies and procedures in place for managing the working conditions of its employees in compliance with IFC Performance Standards. Emergia will be required to maintain compliance with IFC Performance Standards for the duration of IFC''s investment. In case Emergia ever decides to have any new building constructed, it will be required to submit to IFC a plan for managing environmental and social risks in such construction. There is no present plan for such construction, so environmental and social risks are expected to be low in this project, classified as Category C according to IFC''s Environmental and Social Review Procedures.

Contacts

For Inquiries About the Project, Contact

Francisco Beldarrain Chief Financial Officer Emergia T +34 93 183 2600 Rambla Marina, 480, 2ª Pl. | 08907 L’Hospitalet de Llobregat | Barcelona fbeldarrain@Emergiacc.com

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

German Cufre International Finance Corporation 2121 Pennsylvania Ave., NW Washington, DC 20433 Tel: +1 (202) 458-1318 E-mail: gcufre@ifc.org

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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