Original disclosure @ FMO website
Updated in EWS Dec 14, 2020
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According to bank provided information, the funding objective is to support a feasibility study and prepare for the development of a manure-to-energy biogas plant for the West Cape business unit of the Astral Food Group in South Africa. Since the technology will be exported from the Netherlands, the project is eligible for the development contribution from FMO NL Business.
FMO NLB funds the project because it fits with the focus sectors of the Development Accelerator by making one of the largest protein producers (chicken) in South Africa more sustainable and less dependent on unreliable electricity services and LPG imports. The developed project will reduce the CO2 footprint of Astral by producing green energy and clean fertilizer from the chicken manure waste stream, which is currently spread out on land polluting the soil and emitting CO2. Through the Development Capital contribution, FMO NLB supports a Dutch exporter in doing business in South Africa.
Our client is Colsen International B.V., part of Colsen Group of Companies, an innovative, family-owned Dutch SME focusing on water, energy and environment technologies.
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*Contact information not provided at the time of disclosure*
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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