This fund will work under the name of FIVE. While FIVE is an abbreviation of Financial Inclusion Vehicle, it symbolically signals the ambition to increase the current financial inclusion in Africa fivefold (from 20% now to ideally 100%). The fund will focus on Tier II and III financial institutions throughout Africa. The fund is the successor of the Africinvest Financial Sector Limited (AFSL), that FMO (from Massif) and Africinvest launched in 2007.
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.