The First MicrofinanceBank Afghanistan (FMO-52385)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • Afghanistan
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
Jul 25, 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
FMFB-A
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)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 7, 2018

Disclosed by Bank Dec 15, 2017


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Project Description

According to FMO website, FMFB-A is the largest MFI and among the top five commercial banks in Afghanistan operating across 76 districts and 14 provinces with 48 outlets serving 55,000 borrowers and 115,000 depositors. The project will enhance the balance sheet of the institution through diversified and stable funding. FMFB-A projects to grow rapidly in the coming years, mainly in the MSME sector and funding is required to finance the institution's growth. Further, FMO through MASSIF supports a financially sound institution that is a leading financial services provider in one of the most non-inclusive parts of the world. FMFB-A contributes to poverty alleviation and economic development through the provision of sustainable financial services to micro and small businesses, and households. 

Investment Description
  • Netherlands Development Finance Company (FMO)
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