IFC’s DARP (Distressed Asset Recovery Program) focuses on the acquisition and resolution of distressed assets, the refinancing and roll-over risk of viable entities, and restructurings of small and medium-sized companies (SMEs). DARP is particularly critical as a means to reduce the effects of poverty in emerging markets by preventing the loss of assets (mainly family homes and productive assets) and access to formal credit, helping to preserve jobs. DARP has allowed banks to off-load $30 billion in face-value NPLs and is facilitating the normalization of obligations of more than 7 million households and SMEs. Access to finance and credit helps drive economic growth. But when banks have unresolved nonperforming loans on their books, the flow of credit stalls, as does growth. With the growth of credit globally, effective ways of resolving nonperforming and distressed assets is increasingly important. The ability to quickly dispose of problem assets is even more necessary during times of financial crisis. As distressed assets are cleared from a financial system, the faster the recovery, and lending and job creation can continue. Since inception, IFC invested $1.9 billion and mobilized $3.4 billion from investors (total $5.3 billion) in our distressed asset platform. This platform enables us to rapidly and successfully introduce non-performing asset resolution capabilities across the markets in which we work. IFC continues to build the infrastructure needed for distressed assets globally, serving as a catalyst for the development of secondary distressed asset markets, and the protection of homes and businesses around the world.