Hybrid event: Sponsored by Global Finance Thematic Group
Invoice Receivables Financing -also known as factoring under one of its more typical modalities- provides a form of “paper collateral” for small firms that need to borrow but cannot pledge hard assets such as real estate or equipment. Setting up a factoring market in developing countries requires coordinating several moving parts (legal, regulatory, industry infrastructure, technology) to ensure reliability, security, and success. Receivables-based financing offers a range of product designs (reverse factoring, forfaiting, and others) to meet different needs and market segments. While banks frequently do factoring, it is also the business of stand-alone specialist institutions. The use of invoice receivables also provides an opportunity to use these “contractual documents” as realizable assets to back new capital market funding instruments.
Presenter: John Pollner was previously Lead Financial Officer for the Europe and Central Asia and Latin America regions of the World Bank. He specializes in regulatory policy, structuring of financial instruments, research & technical advice, and project operations involving: (i) bank resolution and restructuring, (ii) capital market development, alternative assets, factoring and securitization (iii) pension funds & annuities markets (iv) infrastructure bond financing & guarantees, and (v) catastrophe insurance linked securities. John also worked at the International Monetary Fund undertaking monitoring of programs with monetary targets and capital account financing gaps. He is a University of California, Berkeley Alumnus, and has published reports on, inter alia, funded pensions in Eastern Europe and Latin America, capital markets and banking in Russia and Argentina, catastrophe insurance in the Visegrad-4 countries and Latin America, infrastructure bond finance and credit enhancements in Argentina, and bank resolution / deposit insurance in Poland.
Discussants: Michael Fuchs and Fernando Montes Negret
Moderator: Aquiles Almansi, Co-Chair, Global Finance Thematic Group
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