FONDI BESA JSC (FMO-48989)

Countries
  • Albania
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
C
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
Aug 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
Fondi Besa
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 5.00 MLN
Converted using 2016-08-29 exchange rate.
Loan Amount (USD)
$ 5.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 5.00 MLN
Converted using 2016-08-29 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 26, 2018


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Project Description

According to FMO website, Fondi Besa is the largest microfinance institution (MFI) in Albania supporting approximately 30,000 micro, small and medium businesses. It has a wide urban and semi-urban network of more than 70 branches throughout the country. The average loan size equals EUR 1,500. Its clients mainly operate in the service (37 percent) and trade sector (35 percent). Of its portfolio, 5 percent is provided as youth-loans, giving young people opportunities for self-employment.

FMO supports Fondi Besa through inclusive finance throughout Albania. FMO will provide loans for productive purposes through Fondi Besa to be able to contributes= to the economic development of the country.

Investment Description
  • Netherlands Development Finance Company (FMO)

Fondi Besa is the largest microfinance institution (MFI) in Albania supporting approximately 30,000 micro, small and medium businesses.

Contact Information

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/independent-complaints-mechanism