Project detail - FERONIA INC

FERONIA INC

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Who is our client

Feronia is a Toronto Venture Stock Exchange listed agribusiness and at the heart of Feronia lies a long established palm oil business, Plantations et Huileries du Congo S.A (“PHC”). This company operates in the Democratic Republic of the Congo (the “DRC”) in three remotely located plantations; Lokutu, Yaligimba and Boteka, close to the river Congo. PHC produces mainly crude palm oil and palm kernel oil, which is all sold domestically in the DRC.

Funding objective

The objective of this funding is to improve community livelihoods opportunities, expand grievance management systems and facilitate the resolution of legacy land issues, so that Feronia can improve its community engagement and operations.

Why we fund this project

The project is relevant to FMO’s AFW strategy and its sustainability ambitions because it is a key opportunity to set in place a new sustainability strategy that can become a model for many other agribusiness enterprises across the region. It is also closely aligned with the IDF (Building Prospects) strategy due to its focus on improving livelihoods at the Base of the Pyramid in Sub Saharan Africa.

Region
Africa
Country
Africa
Sector
Agribusiness, Food & Water
Signing date
5/27/2019
Total FMO financing
EUR 0.25 MLN
Fund
Infrastructure Development Fund
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)