As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record of empowering people to employ their skills and improve their quality of life. Each month, we give an overview of the transactions we have signed.
City Auto Rice and Dal Mills Limited (CARDML)
Part of the broader City Group conglomerate
CARDML operates the country’s largest rice and lentil (dal) mill, located in the City Economic Zone near Dhaka and plays a critical role in Bangladesh’s food security by processing staple foods for domestic consumption. FMO provided a senior secured USD 15 million working capital facility to finance the import of pulses, processed and packaged at CARDML’s facility for distribution in the domestic market. The facility is structured as a bilateral corporate loan with a 3-year tenor. The investment supports CARDML’s strategic focus on processing food commodities, contributing to food security and economic resilience in a Least Developed Country (LDC).
City Edible Oil Limited (CEOL)
Part of the broader City Group conglomerate
CEOL refines and packages edible oils and related food products under well-known brands such as TEER and is a key player in Bangladesh’s food manufacturing industry. FMO provided a senior secured USD 10 million term facility to CEOL to finance capital expenditures for the installation of an energy-efficient bottling plant. The facility is structured as a bilateral corporate loan with a 7-year tenor and aims to improve access to staple food products while advancing public health outcomes. Specifically, the investment supports a transition from bulk edible oil sales to more hygienic, fortified, and packaged alternatives.
SA Usina Coruripe Açúcar e Álcool (Coruripe)
Brazilian sugar and ethanol producer
Coruripe - founded in 1925 - operates five industrial plants in Alagoas and Minas Gerais and its own railway terminal, employing around 8,000 people and with milling capacity of 17 million tons of sugarcane per year. Our loan of USD 30 million funds recurring agricultural CAPEX associated with Bonsucro-certified sugarcane production. This debt facility is a club deal with Proparco being the arranger.
Horizon Capital Catalyst Fund SCSp (HCCF)
Private equity fund investing in Ukraine
HCCF has been established to invest in asset-heavy, domestic-oriented companies and projects in Ukraine across various themes, including energy, digital infrastructure, and construction materials. These sectors form the backbone of Ukraine’s economy and require substantial, near-term investment to support the country’s reconstruction. FMO's participation in the Fund’s first closing with EUR 10 million sends a positive signal to other potential limited partners. FMO has an existing relationship with the fund manager Horizon Capital, having invested in all private equity funds managed and established to date by Horizon Capital.
