According to FMO's website, this project provides financing to Banco Ficohsa to "give them the opportunity to better understand IFC performance standards."
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
"Banco Financiera Comercial Hondureña S.A.(Ficohsa, client ID:C00015418) is the largest bank in Honduras with total assets of US$ 2.9bn. Ficohsa is a universal bank servicing corporate, SME and retail segments. The institution is very active in the financing of (renewable) energy projects in the country and the region. Ficohsa is part of Grupo Financiero Ficohsa, S.A, which also has banking operations in Panama, Guatemala and Nicaragua."
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Energias Limpias Del Yaguala||Parent Company||Energy||owns||El Yaguala Hydro Project||Client||Energy|
|Grupo Financiero FICOHSA||Investor||Finance||invests in||El Yaguala Hydro Project||Client||Energy|
|Grupo Financiero FICOHSA||Investor||Finance||invests in||Energias Limpias Del Yaguala||Parent Company||Energy|
No contact information available at time of writing.
ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: email@example.com
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