RSA Advisory, a Bangladeshi firm founded in 2014, and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a development bank controlled by the Dutch government, recently arranged a syndicated loan totaling USD 80 million for One Bank of Bangladesh, mainly for on-lending to small and medium-sized enterprises (SMEs) and projects that reduce environmental impact.
The funders include – in unspecified portions – the SME Finance Fund and three government-backed institutions: the Norwegian Investment Fund for Developing Countries (Norfund); Oesterreichische Entwicklungsbank (OeEB), the development bank of the government of Austria; and France’s Société de Promotion et de Participation pour La Coopération Economique (PROPARCO). The SME Finance Fund is jointly managed by FMO and Dutch “responsible fund and asset manager” Actiam.
Founded in 1999, One Bank reports total assets of BDT 227 billion (USD 2.7 billion), loans and advances of BDT 170 billion (USD 2.1 billion) and deposits of BDT 182 billion (USD 2.2 billion) as of 2017.
The vision of FMO is to help abolish extreme poverty, increase equality and support measures that reduce climate change. Massif is one of four funds that FMO manages behalf of the Dutch government. FMO, which is 49-percent held by private-sector actors, reports total assets of EUR 8.4 billion (USD 10.4 billion) as of June 2017.
Sources and Additional Resources
FMO press release
https://www.fmo.nl/news-detail/5a0a5c3e-fea4-4723-a708-1731a1a98a4f/fmo-and-rsa-jointly-lead-fmo-s-largest-loan-syndication-in-bangladesh
One Bank financials
https://onebank.com.bd/home/financial/financial-statements/
FMO financials as of June 2017
https://www.fmo.nl/l/library/download/urn:uuid:806f7aa7-ba1f-4ed0-a034-308ba6a84f58/interim_report_17_fmo+final.pdf?format=save_to_disk&ext=.pdf
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