Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ivory Coast
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: U
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: 2017-01-10
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: Ecom Ivory Coast (Ecom)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Amount (USD): $ 0.27 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 0.23 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-12-25
ECOM AGROTRADE LIMITED
FMO-50571

Project Description
WHO IS OUR CLIENT Ecom Ivory Coast (Ecom) is a part of Ecom Agrotrade Limited, a commodity trading and sustainability services company specializing in cocoa, with ancillary operations in adjacent commodities and associated services. Globally, Ecom is an industry leader in certified and traceable commodities; in 2013 Ecom sold 3 million bags of certified coffee and 150,000 metric tons (MT) of traceable cocoa. FUNDING OBJECTIVE The core objective of the project is to establish a rural Microfinance Institution (MFI) to foster financial inclusion in Ivory Coast. Tailored farming credit and savings services, combined with agronomic advice will be designed and provided to Ecom's smallholder farmers, which will allow the farmers to invest in productive inputs and to increase their farming revenues. WHY WE FUND THIS PROJECT This CD project will have significant impact at the farmer level by supporting the development of new products that meet the farmers' needs in combination with the provision of additional non-financial services. Financial inclusion of marginalized rural communities breaks the cycle of chronic poverty, by promoting productive investments and supporting the ability of families to recover from financial shocks.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents