BANGLADESH MANAGED ACCOUNT CV (FMO-58423)

Countries
  • Bangladesh
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
Aug 11, 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
Bangladesh Managed Account CV
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 14.80 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 Aug 23, 2020


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Project Description

According to the bank's website, "Through Bangladesh Managed Account CV, FMO will invest in ACI Motors, a market leader in the distribution of agricultural machinery in Bangladesh, and the sole distributor/manufacturer of Yamaha motorbikes in the country. The Company was formed in 2007 with a vision to increase farm mechanization, and is a subsidiary of ACI Limited, a larger conglomerate with interests in pharmaceuticals, consumer goods and agribusiness.

FMO's investment will be used to replace bridge financing raised to build a local manufacturing/assembly plant and to provide working capital for the Company's financing scheme for agricultural equipment. FMO will thus support access to mechanization for farmers and help ACI Motors increase local value creation in the motorbike segment."

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Bangladesh Managed Account CV -- Implementing Company
Contact Information

No contact information provided at time of disclosure.

ACCESS TO INFORMATION

As part of FMOÕs Òex-ante disclosureÓ (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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