World Bank unit launches $5 billion bad-debt fund


The International Financial Corporation, a part of the World Bank Group, on Thursday announced plans to support recovery efforts in the aftermath of the financial crisis.

"Helping banks and companies deal with debt and distressed assets on their balance sheets will help get credit flowing and restore access to affordable finance," said Jyrki Koskelo, IFC vice president for global financial markets.

DARP will invest both directly in businesses that need to restructure their debt and in pools of d

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