EQUITY BANK LIMITED. (FMO-53523)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Countries
  • Kenya
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
Proposed
Bank Risk Rating
B
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.
Borrower
Equity Bank
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.
Ring Fence
  • No Restrictions
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank for a specific purpose. A "ring fence" is another name for the specific purpose. Financial intermediaries include insurance, pension and equity funds. A financial intermediary lends these funds to their clients in the form of loans, bonds, guarantees and equity shares.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 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)
$ 25.00 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 Feb 27, 2019

Disclosed by Bank May 25, 2018

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Project Description

According to FMO website, the FMO is providing a USD 25 mln Trade finance facility under the Rabobank Trade finance Enhancement Facility Agreement with FMO, to strengthen Equity’s Trade Finance activities. The FMO is supporting Equity Bank as part of our strategy to promote and facilitate trade in and between emerging markets in support of economic growth. Kenya is the major Eastern African hub, therefore crucial for east African and global trade. Through this facility, FMO will support job creation, in agriculture, transport, manufacturing and wholesale sectors in Kenya and the eastern African community. 

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Financial Intermediary
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.