Original disclosure @ FMO website
Updated in EWS Jul 7, 2018
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According to FMO website, PRAN-RFL Group (PRAN) is one of the prime conglomerates in Bangladesh. The company's principal activities are the manufacturing and sale of fruit juices, snacks, soft drinks, cakes and dairy products. The facility will also refinance part of the local long-term loans. The transaction concerns a 7 years senior secured USD 13 million facility, in which Proparco and FMO participate for USD 8 million and USD 5 million respectively. It will assist PRAN in establishing environmental, social and corporate governance improvements which would have considerable positive impact on PRAN. The project will also create economic growth through job creation, both direct and indirect.
No contact information provided at the time of disclosure.
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/