Accordinig to the bank, FMO has provided a 3-year SME facility of 30 mln EUR to Sekerbank (15 mln EUR committed and 15 mln EUR uncommitted). This facility is earmarked for SMEs and contributes to FMO’s Reducing Inequalities target, as Sekerbank focuses on rural SMEs in Turkey, an underserved segment.
Sekerbank is a rural and agri oriented high impact financial institution in Turkey and existing partner of FMO. Established in 1953 as sugar beet cooperative, Sekerbank is nowadays a bank with an extensive branch network in the Anatolian rural areas in Turkey and is still an important player in the Turkish agricultural supply chain.
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/