Federated States of Micronesia Development Bank

FSMDB

Federated States of Micronesia Development Bank

FSMDB

  • Type Direct (National)
  • Date of accreditation 25 Oct 2023

The Federated States of Micronesia Development Bank (FSMDB) is a national direct access entity based in the Federated States of Micronesia. With a mandate to support the development priorities of the Federated States of Micronesia, FSMDB finances projects to contribute to the socioeconomic and environmental sustainability of the country. It facilitates the sustainable development of the Federated States of Micronesia through strategic partnerships with its stakeholders to deliver financial products and services to Micronesian people. In line with the national government’s sector priorities FSMDB actively supports development of energy-efficient housing, renewable energy, agriculture, fisheries, tourism, marine resources, transportation and communication infrastructure upgrades.

Together with GCF, FSMDB intends to expand its credit risk abatement facility to stimulate increased market activity and induce a self-sustaining growth dynamic that will result in an accelerated level of commercially viable investments in emissions-reducing sustainable energy investments across the small and medium-sized enterprises landscape in the Caribbean; and develop climate-resilient infrastructure projects in rural and urban communities across the Caribbean that are particularly vulnerable to the adverse impacts of climate change.

Accreditation timeline

Accreditation term 1

Pending

Accreditation date

25 Oct 2023
AMA execution date

01 Apr 2024
AMA effectiveness

Pending
Term end date

Pending

Entity details

  • Size
    • Micro
    • Small
    • Medium
    • Large
  • Environmental and social risk category
    • Category C
    • Category B
    • Category A
    • Intermediation 3
    • Intermediation 2
    • Intermediation 1
  • Fiduciary standards
    • Basic
    • Project management
    • Grant award
    • On-lending/blending:
    • Loan
    • Equity
    • Guarantee
    • Blending

Documents

Title Type Date
Accreditation Master Agreement between GCF and FSMDB FSMDB
Accreditation Master Agreement 01 Apr 2024
1 - 1 of 1
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Contacts

Ms. Anna H. Mendiola
Primary

President/CEO
Phone +691-320-5300
annam@fsmdb.fm
Mr. Alik J. Alik
Secondary

SVP/Chief Credit Officer
Phone +691-320-2419
alika@fsmdb.fm
Address
P.O Box M, Pohnpei, 96941, Micronesia (Federated States of)