RESPONSABILITY ACCESS TO CLEAN POWE (FMO-56029)

Regions
  • World
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
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
Jun 28, 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
responsAbility Access to Clean Power Fund
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 14.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 9, 2020


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Project Description

According to the bank's website, "The objective of this debt fund is the financing of household-level energy access (e.g. solar home systems) as well as commercial & industrial application of off-grid solar energy solutions. The Fund will be managed by responsAbility Investments AG, an asset manager in the field of development investments.

The Fund aims to tap into a growing and financially underserved market, mostly in Sub-Saharan Africa and South & Southeast Asia, by providing debt and mezzanine financing directly to companies providing renewable energy and energy efficiency solutions that range from off-grid systems to captive generation, generally defined as distributed generation."

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Contact Information

No contact information provided at 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