Quick Facts

Where the impacts of the investment may be experienced.
  • Timor-Leste
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2015-12-04
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Tuba Rai Metin or Kaebauk Investimentu No Finansa, SA
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-01
Disclosure Date: 2015-10-30

Project Description
This project finances a loan to either Tuba Rai Metin (TRM) to provide inclusive financial services primarily to poor rural Timorese women and small businesses, or to Kaebauk Investimentu No Finansa SA (KIF) to provide microfinance and allied services for a large number of the poor population in a sustainable and regulated manner, in case micro-finance operations are transferred from TRM to KIF, in order to improve the quality of lives of families and empower women.
Investment Description
Tuba Rai Metin (TRM) was founded as an NGO MFI by Save the Children Federation in July 2001. It managed to survive through the civil unrest from 2006 to 2007 which wiped out 13 NGO MFIs from the market in Timor Leste. TRM is in a transformation process to become a regulated MFI under the license of Other Deposit Taking Institutions (“ODTI”) by having set up a for-profit subsidiary, KIF. TRM has been receiving technical assistance with support from various institutions such as UNCDF, Incofin, and IFC, and has received debt financing from UNCDF, Grameen Crédit Agricole, Incofin, ANZ Bank, Triodos, ResponsAbility, Kiva, and the Government of Timor Leste. It also engages in a Financial Literacy pilot program supported by ILO, which is the only non-financial activity of TRM and accounted separated.
Contact Information
Angelo Soares mailto:soaresangelo.kif@gmail.com Tuba Rai Metin Next to New Embassy of China, Aitarak Laran, Dili (Timor-Leste) ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/