FERONIA INC (FMO-55861)

Regions
  • Africa
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
Proposed
Bank Risk Rating
U
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
May 27, 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
Feronia
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 0.28 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 0.25 MLN
Converted using 2019-06-11 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 11, 2019


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Project Description

The objective of this funding is to improve community livelihoods opportunities, expand grievance management systems and facilitate the resolution of legacy land issues, so that Feronia can improve its community engagement and operations. The project is relevant to FMO's AFW strategy and its sustainability ambitions because it is a key opportunity to set in place a new sustainability strategy that can become a model for many other agribusiness enterprises across the region. It is also closely aligned with the IDF (Building Prospects) strategy due to its focus on improving livelihoods at the Base of the Pyramid in Sub Saharan Africa.

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

Feronia is a Toronto Venture Stock Exchange listed agribusiness and at the heart of Feronia lies a long established palm oil business, Plantations et Huileries du Congo S.A ("PHC"). This company operates in the Democratic Republic of the Congo (the "DRC") in three remotely located plantations; Lokutu, Yaligimba and Boteka, close to the river Congo. PHC produces mainly crude palm oil and palm kernel oil, which is all sold domestically in the DRC.

Contact Information

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