Original disclosure @ FMO website
Updated in EWS Sep 16, 2019
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The project seeks to finance the import of tractors and implements for the expansion of YSH's agri-equipment business under the business division "Automotive & Heavy Equipment". By investing in this transaction, FMO will support the increase in crop productivity and agricultural mechanization in the country. Moreover, FMO intends to organize training for farmers on GAP and agricultural mechanization. Finally, long-term funding is hardly available in Myanmar.
Yoma Strategic Holdings ("YSH") is one of the leading conglomerates in Myanmar. Over the last 10 years, YSH has built a diversified portfolio of businesses in Myanmar through organic growth and in close cooperation with established international partners. The Company's four core business divisions are Real Estate, Automotive & Heavy Equipment, Consumer and Financial Services, along with a portfolio of investments.
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*There is no further information being revealed at this stage of the project*
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