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.
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.
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