The funding to GroFin will be fully used to finance women owned SMEs. This fianncing meets the United Nations Sustainable Development Goals supporting women entrepreneurs with access to finance. Furthermore, this loan provides GroFin with stable long term funding, which indirectly contributes to economic development in Africa.
GroFin is a private development finance institution specialized in financing and supporting small and growing businesses across Africa and the Middle East by combining medium term loan capital and value-added business support. By generating employment, strengthening value chains and building markets, their investments bring about inclusive economic growth and improved living conditions in the low and middle income countries where they operate.
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