Banco de Inversion Y Comercio Exterior SA (BICE) is a Development Bank based in Argentina. BICE is focusing on financing of investments of small and medium enterprises (SME's) by granting medium to long-term loan facilities. As long-term financing is scarce in Argentina, BICE is an important provider to an underserved SME market. The Framework Agreement is an uncommitted facility between BICE and FMO/Nedlinx which will be used to fund upcoming commercial transactions between Dutch exporters and Argentine importers. FMO/Nedlinx will fund BICE who will on-lend the funds to the buyer of the Dutch exported goods.
The Framework Agreement is an uncommitted facility between BICE and FMO/Nedlinx which will be used to fund upcoming commercial transactions between Dutch exporters and Argentine importers. FMO/Nedlinx will fund BICE who will on-lend the funds to the buyer of the Dutch exported goods.
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.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Banco de Inversión y Comércio Exterior SA (BICE)||Undisclosed||-|
|Albanesi Group||Parent Company||Energy||owns||Arroyo Seco Power Plant and Timbues Power Plant||Client||Energy|
|Banco de la Nación Argentina||Investor||Finance||invests in||Albanesi Group||Parent Company||Energy|
|Banco de la Nación Argentina||Investor||Finance||invests in||Arroyo Seco Power Plant and Timbues Power Plant||Client||Energy|
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