Project detail - SAJIDA FOUNDATION


Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Sajida Foundation was set up in 1993 as a non-profit organization, with a view to improving the quality of life in the communities through sustainable and effective intervention. Sajida is dedicated to their raison d’etre of bringing health, happiness and dignity in the lives of the less fortunate. Apart from the micro finance programs, Sajida also offers vast array of social development programs funded by grants, and donation by International Donors in the area of health, education, community welfare and women empowerment. Sajida is the 7th largest microfinance institution in Bangladesh with USD 199 million in total assets and USD 34 million in equity, as on Q3 2019. Sajida has 199 branches serving more than 340,000 customers as on Q3 2019.

What is our funding objective?

The proposed funding is a senior unsecured facility of USD 7.5 million, with a tenor of 5 years (1-year grace) from MASSIF. The loan will be used to finance Sajida’s microfinance portfolio.

Why do we fund this investment?

This transaction will fit in the MASSIF strategic investment theme of "The Unbanked" as Sajida is a microfinance institution operating in Bangladesh. This transaction will be the first DFI loan to Sajida. Short term loans form 50% of Sajida's borrowing and hence the present proposal of a 5-year loan will be highly additional to them in managing their ALM. The facility fully contributes to FMO’s goal to support SDG 10, ‘Reduced Inequalities’.

What is the Environmental and Social categorization rationale?

Sajida is a microfinance company, and given the nature and size of the loans, categorized as a FI-C client. The company does not have exposure to activities on FMO’s exclusion list or IFC-PS triggered transactions.

More investments

Date Total FMO financing
6/10/2022 EUR 0.03 MLN
Financial Institutions
Publication date
Effective date
Total FMO financing
USD 7.50 MLN
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)