Mandarin Overseas Robotics Enterprise Ltd. (FMO-55746)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
West Java
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Apr 23, 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
PT. Metindo Erasakti
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
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)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 3, 2019


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Project Description

According to the bank document, FMO's funding aims at supporting the automation and optimization of the Company's production process. Mandarin Overseas Robotics Enterprise is a special purpose vehicle set up to provide funding to PT Metindo Erasakti (the Company). The Company is one of the largest privately-owned Tier-1 steel automotive parts manufacturers in Indonesia with a diversified and longstanding blue-chip customer base. It has state-of-the-art production facilities located in prime industrial estates in Java. It is recognized locally due to its high level of automation and production efficiency and spearheads most of the Company's strategic initiatives.

The investment will contribute to SDG8 Decent work and Economic growth and SDG9 Industries, Innovation and Infrastructure. In addition, FMO will support the Company with its ESMS and Corporate Governance.

Investment Description
  • Netherlands Development Finance Company (FMO)

*There is no further information being disclosed at this stage of the project*

Private Actors
Contact Information

*There is no further information being disclosed at this stage of the project*

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