According to the bank website, "The project supports the growth of Grameen's microfinance portfolio which is primarily focused on woman micro entrepreneurs , largely in rural areas, therefore contributing to FMO's goal to support SDG 10 'Reduced Inequalities'. Grameen issued senior secured Non convertible debentures in amount of USD 30mln to FMO for a tenor of 5 years. The funds raised will be used to further grow Grameen's microfinance portfolio."
According to the bank, CreditAccess Grameen Limited (Grameen) commenced its microfinance operations as an NGO in 1999 in India and got transformed into a non-deposit NBFC in 2007. It provides loans to women micro-entrepreneurs though the joint liability group model and has a presence in 13 states with a strong rural focus.
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