DEVELOPPEMENT INTERNAT. DESJARDINS (FMO-44663)

Countries
  • Uganda
Geographic location 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
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 11, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Developpement international Desjardins (DID)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 13, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

South Africa
+31 70 314 96 96
joburg-office@fmo.nl

3 on Glenhove
Corner Glenhove & Tottenham Avenue, Melrose Estate 2196
Johannesburg South Africa

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.

How it works

How it works