Original disclosure @ FMO website
Updated in EWS Mar 8, 2019
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According to the bank website, the loan facility will support funding of Alliance's MSME portfolio, specifically focussed on Women (Microfinance) Entrepreneurs and green (commercial) vehicles.
According to FMO, Alliance Finance Company PLC (AFC) is Sri Lanka’s 3rd oldest finance company and a top 10 player (out of the c. 45 NBFCs in the country) based on total assets and has presence in 93 locations with a representation in all 25 districts of the country. The company's business lending portfolio consists roughly of SME leases, pledge loans, SME term loans and (women) microfinance group loans. AFC's clients use the financing for vehicles, mortgages, tractors and equipment and the remainder for general working capital purposes and consumption.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Alliance Finance Company PLC (AFC)
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