HUOZHI (FMO-52849)

Regions
  • World
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
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
Apr 1, 2018
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
Huozhi
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)
$ 0.31 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 0.25 MLN
Converted using 2018-04-01 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

Huozhi is a social impact enterprise designed to cut transaction costs and risk out of aid to crisis zones by providing a vehicle for donations of safe and direct financial assistance to 'unbankable' people. Huozhi was started with the purpose to enable more families to stay in their home country with dignity, allow local business to survive and rebuild, and support donors to optimize value for money while reducing the risk of financial crime.

This convertible grant will support Huozhi in their start-up phase. In particular, the funds will be used to develop and run a pilot of the full Huozhi system in MASSIF countries.

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

*No project contacts were available 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.