BRAC SIERRA LEONE (FMO-59418)

Countries
  • Sierra Leone
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
U
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
Dec 18, 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
BRAC International Holdings BV
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
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)
$ 0.06 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.05 MLN
Converted using 2020-12-18 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 22, 2021


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Project Description

According to bank provided information, the contracting entities are BRAC Microfinance Sierra Leone Limited (BMSL) and BRAC Liberia Microfinance Company Limited (BML), wholly owned subsidiaries of BRAC International Holdings BV, which operate in microfinance. In 2008, BRAC started its microfinance activities in both Sierra Leone and Liberia. As of July 2019, BMSL has reached over 49,000 clients and BML 36,000 with their two main products: individual microloans for women delivered through groups, and enterprise loans targeting both male and female small-scale entrepreneurs.

In this project, an in-depth market analysis will be conducted and client-centric products and services will be developed. The project has two main goals: i) to have a deeper understanding of economic activities and financial needs of smallholder farmers in Sierra Leone and Liberia, and ii) to diversify the product offerings in the two countries to address the specific needs of the smallholder farmers, especially female farmers in these countries.

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

*Contact information not provided 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: 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