MIKROKREDITNO DRUSTVO EKI D.O.O. (FMO-52251)

Countries
  • Bosnia and Herzegovina
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.
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 17, 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
EKI
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 5.87 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 2017-08-17 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 24, 2018


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Project Description

This project provides long-term funding to EKI, a microfinance institution focusing on the agricultural sector. EKI provides financial services to low-income people, and around 40% of their clients are women.

Investment Description
  • Netherlands Development Finance Company (FMO)

EKI is one of the leading microfinance institutions in Bosnia & Herzegovina and has a focus on the agricultural sector. The country is still struggling with war-torn past in 90s and complicated system of government. EKI's mission is to provide the right financial services to low-income people and ca. 40% of EKI clients are women. The goal is to enable economic independence of those groups.

Contact Information

*No contacts available at 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