I AND M BANK (RWANDA) PLC
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
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
I&M Bank Rwanda, headquartered in Kigali, is one of the top 3 commercial banks in Rwanda and was established in 1963. It provides financial services to corporates, SMEs and retail customer. I&M Rwanda is part of the I&M Group, a leading financial services provider in East-Africa and long-standing partner of FMO. The Group was established in 1974 and operates in 4 countries: Kenya, Tanzania, Mauritius and Rwanda.
What is our funding objective?
The proceeds of the loan will be used for general purposes and, on a best effort basis, for green lending (mainly hydro projects).
Why do we fund this investment?
The transaction with I&M Bank Rwanda will allow FMO to expand its regional scope by increasing its footprint in East-Africa’s LDCs and by seeking exposure outside of the larger markets (South Africa and Kenya). In addition, I&M Bank Rwanda is part of the I&M Bank Group, long-standing partner of FMO. Through this transaction, we intensify our increasing collaboration with I&M in all countries of operations. This transaction provides FI with the opportunity to support green financing for the first time in Rwanda.
What is the Environmental and Social categorization rationale?
The Bank is classified as E&S category B in accordance with FMO’s policy. High-risk sectors represent less than 5% of the total portfolio and the average loan size is USD 30k.
- Website customer/investment
- https://www.imbank.com/rwanda/
- Region
- Africa
- Country
- Rwanda
- Sector
- Financial Institutions
- Publication date
- 5/6/2020
- Effective date
- 6/26/2020
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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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) - B