According to FMO's website, this project provides financing to FirstRand Bank to expand its climate finance portfolio in South Africa. This project will support the bank's funding of renewable energy and energy efficiency projects in corporates and smaller businesses. It also facilitates the bank’s shifting focus in its climate portfolio, from mitigation to resilience, through the financing of “climate smart infrastructure”, agriculture and manufacturing.
FirstRand Bank is a Tier 1 financial institution in South Africa. It is #2 by total assets and with 22% total market share as of December 2019. The bank had total assets of US$92 billion, net loans of US$63 billion, customer deposits of US$59 billion and equity of US$7.4 billion at December 2019. FirstRand Bank is 100% owned by FirstRand Limited (“the group”), a financial services company listed on the Johannesburg Stock Exchange (JSE) and Namibian Stock Exchange (NSX). The group employs approximately 49,867 people across ten countries throughout sub-Saharan Africa and FirstRand Bank has branches in London, India, and Guernsey.
PROJECT CONTACT INFORMATION
Not available at the time of disclosure
ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: email@example.com
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