BRAC UGANDA BANK LTD
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
BRAC Uganda Microfinance Ltd is a Ugandan microfinance institution targeting the base of the pyramid. They are related to BRAC NGO and therefore have a combined focus on economic and social development. Through an extensive network in rural areas, BRAC Uganda offers small enterprise loans to entrepreneurs seeking to expand small businesses
What is our funding objective?
FMO has provided BRAC Uganda with a USD 6 mln local currency facility, to support growth in their loan portfolio. The funding has been provided through the MASSIF financial inclusion fund. BRAC Uganda has a very large rural outreach, thereby servicing borrowers that typically do not have access to formal financial products and services.
Why do we fund this investment?
In line with FMO, BRAC Uganda has a strong focus on financial inclusion, supporting female entrepreneurs in rural areas. Long term local currency funding is not readily available in Uganda. Furthermore, FMO is supporting BRAC Uganda in their transformation process to become a regulated credit institution.
What is the Environmental and Social categorization rationale?
This facility has been categorised as Category C in accordance with FMO’s Sustainability Policy. As part of this facility, DFCU will be required to apply the EDFI Exclusion List and national E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 10/1/2020 | EUR 0.10 MLN |
- Region
- Africa
- Country
- Uganda
- Sector
- Financial Institutions
- Effective date
- 7/6/2017
- End date
- 6/21/2022
- Total FMO financing
- USD 6.00 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C