Global Partnerships Impact-First Growth Fund, LLC (FMO-65288)

Regions
  • Africa
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Specific Location
Sub-Saharan Africa (SSA) and Latin America and the Caribbean (LAC)
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 10, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Global Partnerships Impact First Growth Fund (IFGF)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 8.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS May 12, 2026

Disclosed by Bank Aug 28, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, Global Partnerships Impact First Growth Fund (IFGF) was launched as a strategic response to the COVID-19 pandemic, providing debt financing to microfinance institutions (MFIs) and social enterprises that deliver essential products and services to people living in poverty across low-income, fragile, and conflict-affected countries across Sub-Saharan Africa (SSA) and Latin America and the Caribbean (LAC).

FMO provides a USD 8 mln senior, unsecured loan to IFGF with a tenor of 6 years. The loan will be directed to micro-, small-, and medium-sized enterprises (MSMEs) serving women living in poverty, as well as to agricultural and rural activities in countries eligible under the MASSIF program.

FMO has invested in GP-managed debt funds since 2010. The Fund Manager has extensive experience managing social impact investments since 2005 and is considered a trusted partner. Through an investment in IFGF, FMO continues to support the client in generating social impact across LAC and SSA, reaching those at the bottom of the pyramid. Consequently, the loan qualifies for a 100% Reducing Inequalities (RI) label.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

IFGF has E&S Category C, in accordance with FMOa€™s Sustainability Policy. Given the Fund's focus on microfinance institutions and small social enterprises, its activities are deemed to have a limited adverse impact on the environment. While contextual risks related to microfinance are elevated in certain exposure countries of the fund, IFGF has adequate mitigation measures in place, including a clear client protection framework. Additionally, the client's Environmental and Social Management System is aligned with the EDFI Exclusion list and local laws and regulations.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A USD 8 mln senior, unsecured loan to IFGF with a tenor of 6 years.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

 The Fund is managed by GP Fund Management LLC (GP), an impact-first fund manager with whom FMO has a longstanding relationship.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

https://globalpartnerships.org/debt-funds/

No contacts available 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

How it works

How it works