DEVELOPPEMENT INTERNAT. DESJARDINS
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Founded in 1970, Developpement international Desjardins (DID) is a not-for-profit subsidiary of the Desjardins Group, the largest integrated financial cooperative and the sixth largest banking institution in Canada. DID's mission is to "empower the disadvantaged in developing countries and countries in transition by supporting community owned and operated financial institutions which can have an impact on poverty reduction". This Capacity Development (CD) project is for the benefit of EFC Uganda.
What is our funding objective?
The aim of the project is to support the set up of a microfinance institution (MFI) in Uganda dedicated to small and micro entrepreneurs - EFC Uganda. The model developed by DID is known as a Entrepreneurial Finance Centres (EFC, or CFE in French).
Why do we fund this investment?
The EFCs aim to increase access to financial services for small-scale Ugandan entrepreneurs and to encourage development of local wealth is in line with FMO’s ambition to become the world’s leading impact investor by 2020 by supporting the development of an impact investing ecosystem in Africa.
- Region
- Africa
- Country
- Uganda
- Sector
- Financial Institutions
- Effective date
- 11/9/2015
- End date
- 5/11/2017
- Total FMO financing
- EUR 0.10 MLN
- Funding
- MASSIF