According to the Bank's website, this project will provide financing to the borrower in order to increase their capital base and support the growth of its portfolio of local currency solutions.
The Currency Exchange Fund N.V. (‘TCX’) is a fund based in Amsterdam, The Netherlands. It was founded in 2007 by development finance institutions, specialized microfinance investment vehicles and donors to offer solutions to manage currency risk in developing and frontier markets. These solutions consist of derivatives which enable TCX’s investor to lend in local currency while shifting the currency risk to TCX. This protects borrowers from the risk resulting from currency volatility due to borrowing in hard currencies like USD, EUR, etc.
No contact information available at time of writing.
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