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Last Thursday (July 19th), the French Development Finance Institution Proparco announced they will be joining the Independent Complaints Mechanism (ICM). The Mechanism is a joint initiative of Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and FMO and was established in 2014. The ICM allows external parties to file a complaint concerning projects financed by FMO. We welcome Proparco to the ICM with great pleasure and look forward to a long-lasting cooperation. Proparco expects the ICM and the Proparco Complaints Office to be fully operational by 31 January 2019.
“We are delighted to announce that we will be establishing an independent complaints mechanism, which will allow external parties to file a complaint concerning a PROPARCO-financed operation. This will be in place by 31 January 2019.
The independent complaints mechanism ensures the right to be heard for complainants who feel affected by the negative environmental and/or social effect of a PROPARCO-financed operation in order to enable resolution of disputes and assist PROPARCO in drawing lessons learned for current and future operations.
Any complaint submitted to the independent complaints mechanism will be forwarded to the Independent Expert Panel by PROPARCO Complaints Office from the date specified above.”, said Gregory Clemente, CEO of Proparco.
Proparco, the private sector financing arm of Agence Française de Développement (AFD), has been working to support development in Southern countries for 40 years. It plays a key role in AFD Group and the French cooperation mechanism: financing and support for projects led by companies and financial institutions in developing and emerging countries – from SMEs to regional banking groups, including microfinance institutions.