The funding objective is to contribute to Banco Improsa Capacity Development (CD) project for serving women-owned businesses in Costa Rica.
Banco Improsa would like to engage the advisory services of a local consultant to support it in its gender finance journey and build its capacity for better serving the women’s market, to be co-funded by FMO’s Capacity Development Program. The final aim is to grow the number of women and average loan size in the SME portfolio in a more sustainable, effective and efficient way.
The investment type was not available at the moment of the snapshot.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
Banco Improsa. S.A. is a medium-sized bank in Costa Rica that focuses mainly on the SME segment. It is the 5th largest private bank in Costa Rica with a total asset size of USD 720 mln. Its main customers are SMEs in the construction, commerce, services, trade, transport, housing and tourism sector.
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/