According to the bank's website, "FMO financed a project which is set out to rehabilitate 4.500 of Pune’s slum hutments by building 11 rehabilitation buildings.
With the new buildings the living conditions of approx. 25,000 slum dwellers will significantly improve as they gain a legal title on their homes, secure tenor, and basic amenities (running water, sewage, sanitary). The new funding that is provided now is too recommence the construction of the rehabilitation buildings after this stranded mainly due to poor real estate market conditions."
Kumar Sinew Developers Pvt. Ltd. is a real estate development company with a focus on residential, retail and commercial development mainly in Pune and Mumbai.
Contact information not 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