MINISTERE DE L'ECONOMIE ET DES FINA (FMO-58922)

Countries
  • Guinea
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.
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.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 15, 2021

Disclosed by Bank Nov 24, 2020


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Project Description

WHO IS OUR PROSPECTIVE CLIENT?

Our client is the Ministry of Economy and Finance of the Republic of Guinea.

WHAT IS THE FUNDING OBJECTIVE?

The FMO funding will be provided in the form of a buyer's credit facility to be used to finance ~50% of a design-build construction contract between a Dutch construction company and the Ministry of Public Works of Guinea. The construction contract relates to the construction of 5 bridges with access roads located in Guinea's capital Conakry (4 bridges) and neighboring prefecture Coyah (1 bridge). The FMO facility will also be used to finance the premium for the credit insurance that Atradius Dutch State Business NV (the Dutch ECA) will provide for this transaction. The remaining ~50% of the construction contract amount shall be funded by a grant from the Dutch Ministry of Foreign Affairs, through its DRIVE facility, managed by RVO.

WHY DO WE WANT TO FUND THIS PROJECT?

The rationale for funding this Project is: * The transaction supports the development of critical infrastructure in a low-income country. * The transaction aims to support the reduction of inequalities between countries and contributes to economic growth, infrastructure & innovation and partnerships. * With a significant percentage of the construction contract amount being used to source products and services from the Netherlands, the Project has a significant Dutch interest. * The Project is a showcase of how FMO, RVO and Atradius Dutch State Business can combine efforts to support a Dutch company and create impact in places where it is most needed. * High financial and ESG additionality.

ENVIRONMENTAL AND SOCIAL RATIONALE

FMO has played an active role in guiding the ESIA process and is providing Capacity Development support in the development of Resettlement Action Plans for the project. The ESIA has shown that all IFC Performance Standards are triggered, except PS7 (no indigenous populations affected by the project) . E&S category is A.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

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: 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