• Pakistan
Where the impacts of the investment may be experienced.
Specific Location
Thatta, Sindh
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Bank Risk Rating
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.
SPV Lakeside Energy (Private) Limited
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.03 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 May 18, 2020

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Project Description

According to the bank website, "The senior debt will be dedicated to the development, construction and operation of a 50MW wind power plant in the District Thatta, Sindh, in the Islamic Republic of Pakistan. Total expected project costs are around USD 67m. FMO's financing in Lakeside is for up to USD 26.7m (acting as co-Lead Arranger) and parallel to the local commercial bank Faysal Bank Limited who participates with an equal amount of USD26.7m (in local currency)."


Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • SPV Lakeside Energy (Private) Limited (Client)

According to the bank website, "SPV Lakeside Energy (Private) Limited ("Lakeside"). The key Sponsor is Naveena Exports Limited. Naveena Exports Limited was founded in 1971 and is a conglomerate of companies active in denim (with clients as Levi's, GAP, C&A, ZARA etc.), spinning, property development, steel and power. Lakeside is Naveena's subsidiary and the SPV that has been created to develop, finance, construct and operate a 50MW wind park in Pakistan."

Contact Information

No contact information provided at the time of disclosure.


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: