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NGOs and local stakeholders have become more vocal
Local communities, NGOs, governments and the media increasingly expect development banks to foster local prosperity through investments with a positive impact on local communities.
FMO proceeded in 2017 to strengthen its relationships with Dutch stakeholders. These include the State of the Netherlands, Dutch civil society and Dutch businesses. In particular, in the field of sustainability, engagements were intense.
Independent complaints mechanism
FMO has an Independent Complaints Mechanism (ICM) together with the Deutsche Investitions- und Entwicklungsgesellschaft (DEG). This allows affected parties the possibility to raise their complaints with an Independent Expert Panel (IEP).
Consolidated profit and loss account
For the year ended 31 December 2017
Significant accounting policies
The annual accounts are prepared in accordance with the financial reporting requirements as included in Part 9 of Book 2 of the Dutch Civil Code with the allowed application of the accounting policies (EU-IFRS) as set forth in the consolidated
FMO impact model
We continue to use the FMO impact model to estimate the total number of direct and indirect jobs supported by FMO’s investments over the year.
Off-balance sheet information
The company issued guarantees regarding principal and interest repayments for a number of projects. The nominal amount of the guarantees is valued at the exchange rate as per December 31, 2017 and December 31, 2016.
The figures and percentages mentioned throughout this integrated annual report are the figures related to the financing activities from FMO’s own funds including the FOM facility. FMO also manages several funds for the Dutch government.
Company balance sheet
As at 31 December 2017
Financial inclusion in a challenging place
Afghanistan |The First MicroFinance Bank, Afghanistan Sector | Financial Institutions