ECOM AGROTRADE LIMITED (FMO-50571)

Countries
  • Ivory Coast
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
Active
Bank Risk Rating
U
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
Jan 10, 2017
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
Ecom Ivory Coast (Ecom)
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 Amount (USD)
$ 0.27 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 0.23 MLN
Converted using 2017-12-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

Ecom Ivory Coast (Ecom) is a part of Ecom Agrotrade Limited, a commodity trading and sustainability services company specializing in cocoa, with ancillary operations in adjacent commodities and associated services. Globally, Ecom is an industry leader in certified and traceable commodities; in 2013 Ecom sold 3 million bags of certified coffee and 150,000 metric tons (MT) of traceable cocoa.

FUNDING OBJECTIVE

The core objective of the project is to establish a rural Microfinance Institution (MFI) to foster financial inclusion in Ivory Coast. Tailored farming credit and savings services, combined with agronomic advice will be designed and provided to Ecom's smallholder farmers, which will allow the farmers to invest in productive inputs and to increase their farming revenues.

WHY WE FUND THIS PROJECT

This CD project will have significant impact at the farmer level by supporting the development of new products that meet the farmers' needs in combination with the provision of additional non-financial services. Financial inclusion of marginalized rural communities breaks the cycle of chronic poverty, by promoting productive investments and supporting the ability of families to recover from financial shocks.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

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.