VAN DEN BERG ASIA HOLDING LTD (FMO-45719)

Countries
  • China
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.
Project Status
Approved
Bank Risk Rating
B
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
Mar 29, 2016
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
CHC Agriculture Development
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 3.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 26, 2018


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Project Description

Van den Berg Asia Holding Ltd. Hong Kong (VDB) successfully produces and markets top quality cut flowers and potted plants in the Yiliang valley in South West China since 2007. With 18 hectares of advanced greenhouses VDB grows roses, anthuriums and other flowers selling to over 200 distributors all over China

Van den Berg will use the loan to set-up a new greenhouse complex in the Lufeng valley about 100 kilometers to the west of the city of Kunming. The proceeds will be used to build additional green houses, to install the steam infrastructure and lease land right.

The funding of FMO will enable van den Berg Asia to further develop its activities in China. The financing is attractive because of the development impact created by the investment. The greenhouse will offer structural employment opportunities in a rural environment, offering an alternative for people who might otherwise migrate to the city. The new investment also enables the client to reduce its impact and footprint; the greenhouses will be heated by excess heat from a nearby factory.

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