According to FMO website, Frontclear is a financial markets development company focused on catalyzing more stable and inclusive financial markets in emerging and developing countries. Frontclear facilitates more competitive access to interbank markets though issuance of Basel III compliant credit guarantees to cover a transacting institution’s (the Obligor) counterparty credit risk. Frontclear covers money market instruments including but not limited to repo’s, cross currency repo’s and derivative instruments. The investment represents a significant increase in the capital of Frontclear and allows Frontclear to extend its efforts to support the development of more inclusive and more liquid interbank markets in emerging and frontier economies. Frontclear is a niche-player with a unique proposition. Given the company’s start-up nature, FMO is highly additional. Further value is added by enabling Frontlcear to access FMO’s network and knowledge such as FMO’s worldwide financial institution sector knowledge and client base. Frontclear’s product offering is complementary to FMO since it is highly beneficial to many of our financial institutions clients: whereas DFIs provide long-term financing, Frontclear offers short – term money market solutions. Finally, Dutch interest is clearly represented in this transaction.
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/