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
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)
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

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Project Description


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.


The development of financial products and delivery models for smallholder farmers (mainly women) is key in the context of reducing rural poverty, improving food security and supporting economic development. It is expected that interesting learnings can be derived from this project about smallholder financing. In addition, the project is well aligned with MASSIF's impact priorities and contributes to FMOa€™s Gender finance strategy as the main target for this project are women.

Investment Description

Contact Information


As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to:


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: