DEVELOPPEMENT INTERNAT. DESJARDINS (FMO-44663)

Countries
  • Uganda
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 11, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Developpement international Desjardins (DID)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 0.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 13, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

WHO IS OUR CLIENT

Founded in 1970, Developpement international Desjardins (DID) is a not-for-profit subsidiary of the Desjardins Group, the largest integrated financial cooperative and the sixth largest banking institution in Canada. DID's mission is to "empower the disadvantaged in developing countries and countries in transition by supporting community owned and operated financial institutions which can have an impact on poverty reduction". This Capacity Development (CD) project is for the benefit of EFC Uganda.

FUNDING OBJECTIVE

The aim of the project is to support the set up of a microfinance institution (MFI) in Uganda dedicated to small and micro entrepreneurs - EFC Uganda. The model developed by DID is known as a Entrepreneurial Finance Centres (EFC, or CFE in French).

WHY WE FUND THIS PROJECT

The EFCs aim to increase access to financial services for small-scale Ugandan entrepreneurs and to encourage development of local wealth is in line with FMOa€™s ambition to become the worlda€™s leading impact investor by 2020 by supporting the development of an impact investing ecosystem in Africa.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.