ACLEDA MFI MYANMAR CO LTD (FMO-50637)

Countries
  • Myanmar
Geographic location 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.
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."
Borrower
Microfinance Myanmar (AMM)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.00 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.
Project Cost (USD)
$ 3.00 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.
Other Related Projects
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 16, 2019


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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.

FMO's local currency loan will be used by AMM to further expand its lending operations to microfinance clients in urban and rural areas of Myanmar, who currently have limited or no access to capital.

The project is envisaged to have high impact which derives from providing LT capital to a well-established microfinance institution in Myanmar, a country which has been isolated for more than 50 years and where more than 80 percent of the population has no access to financial services.

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

Microfinance Myanmar (AMM) is the newest subsidiary of ACLEDA Bank PLc. Cambodia (ABC), a well-reputed client and long-lasting relationship of FMO. AMM started operations in February 2013. With support from its shareholders- ABC (55%), IFC (15%), KFW (15%) and COFIBRED (15%), it has become a top 5 microfinance institution in Myanmar. AMM has built a loan portfolio of USD 13.5 million, a balance sheet of USD 14.7 million and it serves 44,516 clients. AMM provides mainly microfinance loans up to USD 5000.


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.

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