According to the bank document, "the proposed funding is a senior unsecured facility of USD 15 million, with a tenor of 5 years. The loan will be used to finance PGMF's microfinance portfolio. Pact Global Microfinance Fund (PGMF) is a wholly-owned subsidiary of Pact, Inc. ("Pact") incorporated in the State of Delaware, USA".
PGMF is a charity created by Pact, a non-profit international development organization founded in 1971, active in nearly 40 countries. PGMF operates directly as an international non-governmental organization in Myanmar, where it is licensed by the Financial Regulatory Department to implement microfinance activities. PGMF operates with a loan book of ~USD 275 million serving more than 950,000 borrowers - 99% of them women - which is present in more than 79 townships and >14,000 villages.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Pact Global Microfinance Fund (PGMF)||Client||-|
|-||-||-||-||Pact International Organization||Parent Company||-|
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