ALLIANCE FINANCE COMPANY PLC (FMO-53683)

Countries
  • Sri Lanka
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
Active
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.
Voting Date
Dec 29, 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
Alliance Finance Company PLC (AFC)
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)
$ 10.00 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)
$ 10.00 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 Dec 17, 2018


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Project Description

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.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

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.

Contact Information

Alliance Finance Company PLC (AFC)
https://www.alliancefinance.lk/

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