FMO (Netherlands Development Finance Company) #4401
Created at
2016-12-19
Last update
2016-12-19
Involvements (12)
ID
Name
Generadora del Itsmo SA. (GENISA)
Country of registration/origin
Panama
Classification
Private company
Relationship
Subsidiary company
ID
Name
Zambeef Products PLC (Zambeef)
Country of registration/origin
Zambia
Classification
Stock-exchange listed company
Relationship
Beneficiary company
Investment type
Debt financing
Comment
DEG, jointly with its partner FMO, provides to Zambeef a long-term loan of 15 million US-dollars for expansion investments.
ID
Name
MK Group LLC
Country of registration/origin
Serbia
Classification
Private company
Relationship
Beneficiary company
Investment type
Debt financing
Comment
Signing date - 2013-09-27; Total FMO financing - EUR 15.00 MLN
ID
Name
Malawi Mangoes (Mauritius) Ltd
Country of registration/origin
Mauritius
Classification
Private company
Relationship
Beneficiary company
Investment type
Debt financing
Loan amount
2 500 000
Loan date
26-06-2014
Comment
US$2.5 million co-investment with IFC and Global Agriculture and Food Security Program (GAFSP)
(https://www.fmo.nl/project-detail/32056#:~:text=Malawi%20Mangoes%20sources%20bananas%20and,and%20international%20fruit%20drink%20manufacturers.)
ID
Name
Injaro Agricultural Capital Holdings Limited (IACHL)
Country of registration/origin
Mauritius
Classification
Investment fund
Relationship
Beneficiary company
Investment type
Shares/Equity
Loan amount
10 040 000
Loan date
2014-09-01
Comment
https://www.fmo.nl/project-detail/32194
ID
Name
Miro Forestry Developments Limited
Country of registration/origin
United Kingdom of Great Britain and Northern Ireland
Classification
Private company
Relationship
Beneficiary company
Investment type
Shares/Equity
Loan amount
12 600 000
Loan date
2018-11-19
Comment
FMO has invested through numerous funds. In 2020 it invested a further 5mln USD through the DFCF Land Use Facility. The 2020 transaction consists of a conversion of FMO’s existing $10m mezzanine debt (from the 2018 tranche?) into a redeemable preference share funded by the Builing Prospects Fund, and a further $5m share funded by the Dutch Fund for Climate and Development (DFCD).
https://www.fmo.nl/project-detail/53656, https://www.africaglobalfunds.com/news/investors/fmo-makes-follow-on-investment-in-miro-forestry/
ID
Name
Criterion Africa Partners
Country of registration/origin
United States of America
Classification
Private equity firm
Relationship
Beneficiary company
Investment type
Shares/Equity
Loan amount
10 000 000
Loan date
2017-21-12
Comment
US$ 10 million investment in Africa Sustainable Forestry Fund II (https://www.fmo.nl/project-detail/52603)
ID
Name
SIFCA
Country of registration/origin
Côte d'Ivoire
Classification
Stock-exchange listed company
Relationship
Beneficiary company
Investment type
Debt financing
Loan amount
35 000 000
Loan date
2018-08-10
Comment
A EUR 90 mln term facility will be provided to SIFCA by Proparco (Lead), FMO, and the bank Société Générale. The facility will be used to finance SIFCA’s investment plan and to refinance existing debt so the tenor of its assets and liabilities will be better matching. (https://www.fmo.nl/project-detail/54763)
ID
Name
Bujagali Energy Limited
Country of registration/origin
Uganda
Classification
Private company
Relationship
Beneficiary company
Investment type
Debt financing
Loan amount
56 700 000
Loan date
2018-06-22
Comment
US$5.67 million. FMO participated in the original financing of the power plant with a senior and subordinated loan with remaining tenors of 5.5 and 9.5 years. Bujagali Energy Ltd will refinance a large portion of the original financing with a new financing consisting of senior loans with a 15 years tenor. (https://www.fmo.nl/project-detail/54838)
ID
Name
Maris Capital
Country of registration/origin
United Kingdom of Great Britain and Northern Ireland
Classification
Investment fund
Relationship
Beneficiary company
Comment
https://www.fmo.nl/project-detail/42452. Total investment: 2014- $5Mln, 2017- EUR0.05, 2019- EUR0.05 and $10mln, 2020- EUR0.04.
ID
Name
Aviv Tanzania Limited
Country of registration/origin
Tanzania
Classification
Private company
Relationship
Beneficiary company
Investment type
Debt financing
Loan amount
14 000 000
Loan date
2013-06-26
Comment
US$ 14 million
https://www.fmo.nl/news-detail/846a3d93-a725-447b-99a2-f3a2a0978900/fmo-invests-in-aviv-tanzania
ID
Name
Plantations Et Huileries du Congo sa (PHC)
Country of registration/origin
Congo, Dem. Rep.
Classification
Private company
Relationship
Beneficiary company
Investment type
Debt financing
Loan amount
16 500 000
Loan date
21/12/2015
Comment
DEG, BIO, EAIF and FMO provide a long term loan facility in an amount of up to USD 49 million (DEG: USD 16.5 million, BIO: USD 11 million, EAIF: USD 5 million, FMO: USD 16.5 million).
On February 22, 2022, development banks – BIO of Belgium, CDC of the UK, DEG of Germany and FMO from the Netherlands – announced that they had sold off their remaining financial interests in Plantation et Huileries du Congo (PHC), the scandal-plagued company holding over 100,000 ha of concessions for oil palm plantations in the DR Congo. It follows the exit of the French development bank Proparco earlier in 2021.
This marks the end of a nine year period in which a consortium of many of the world's largest development banks spent over US$150 million propping up a company that acquired its land concessions through a Belgian colonial era land grab and that was involved in gross human rights violations and environmental crimes both before and during the development banks investments. It constitutes one of the most shocking examples of development bank complicity in the impoverishment, dispossession and repression of local communities in the global South.