This project funds the growth of a small and midsize enterprise portfolio for the Sanasa Development Bank.
Sanasa Development Bank PLC (SDB). SDB has its roots in a large, island-wide network of savings and credit cooperatives in Sri Lanka known as the "Sanasa movement". "Sanasa" is a Sinhalese acronym for "thrift and credit cooperative". The Sanasa movement is the largest cooperative network in the country and consists of about 9000 cooperatives with about 3 million members (about 20 percent of the Sri Lankan population). Sanasa cooperatives are member owned societies and are grouped together under the Sanasa Federation, which is supervised by the Department of Co-operative Development. The Sanasa cooperatives are particularly active in rural areas and SDB was created to eventually serve as their apex financial institution.
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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/