TIDAL BRIDGE BV (FMO-55582)

Countries
  • Indonesia
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
Approved
Bank Risk Rating
A
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
Mar 22, 2019
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
Tidal Bridge B.V.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 0.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.40 MLN
Converted using 2019-03-22 exchange rate.
Loan Amount (USD)
$ 0.45 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 Apr 13, 2019


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Project Description

According to FMO website, the project will carry out an ESIA/AMDAL study for Palmerah Tidal Bridge, Larantuka, Indonesia to be financed from Project Development Facility. It aims to support the Dutch company Tidal Bridge BV with the development of a bridge between the islands of Larantuka and Adonara in the region East Flores, Indonesia. A bridge will improve the standard of living and the self-sufficiency of the region, by providing easier access to markets, healthcare, education. In addition, the tidal turbines under the bridge will generate renewable energy. 

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

Tidal Bridge B.V. is a Dutch company that designs and builds floating bridges equipped with tidal turbines which generate power. The turbines are powered by the ebb and flow of the tide.

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