BANCO COMERCIAL E DE INVESTIMENTOS (FMO-58327)

Countries
  • Mozambique
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
Approved
Bank Risk Rating
A
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
Jul 17, 2020
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
Banco Comercial e de Investimentos
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 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 24, 2020

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Project Description

According to bank provided information, the funds will be used to finance BCI's pipeline of infrastructure projects which are in need of long-term USD funding, which is very scarce at the moment. These projects have strong linkages to other economic sectors, therefore boosting employment creation. Moreover, our facility improves the bank's maturity profile.

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

Incorporated in 1996, Banco Comercial e de Investimentos ("BCI") is the largest bank in Mozambique. The bank provides a wide range of corporate, retail and commercial banking services to >1.5mln clients through a network of over 193 branches and outlets. The main shareholders are Portuguese banks Caixa Geral de Depositos (CGD) and Banco Portugues de Investimento (BPI).

FUNDING OBJECTIVE

Contact Information

*Contact information not provided at the 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