The Hague, The Netherlands, December, 23 2010 - In order to boost further grow of the mortgage portfolio of Delta Brac Housing in Bangladesh, FMO and Triodos Fair Share Fund, managed by Triodos Investment Management have provided long term local currency facilities. FMO has provided USD 25 million with a 10-years tenor and Triodos Fair Share Fund will provide USD 3 million with a 5-years tenor.

The agreements for the facilities were signed on 9 and 6 December 2010 respectively and the loan amounts will be fully disbursed before the end of the year. This transaction is clearly combining the focus on financing institutions and housing at both FMO and Triodos Investment Management.

Delta Brac Housing (“DBH”) was established in 1996, and is a well-run, efficiency focused and profitable non-banking financing institution and has been a client of FMO for more than 10 years. DBH specialises in housing finance for the middle income segment in urban areas of Bangladesh. It is the largest private sector specialized housing finance institution in the country. DBH’s market position is excellent since it has a share of 50% in the market where EUR 200m new disbursement was made in 2010.  DBH has over 22,000 clients, most of which bought an apartment for the first time. The average price of an apartment is EUR 45,000 but the average mortgage at DBH is much lower at EUR 15,000.  DBH market potential is large since only 20% of the Dhaka population owns their own house. Each year around 100,000 new apartments are needed. There is a large unmet demand and many new construction projects are started.

Mr. Q.M. Shariful Ala, Managing Director & CEO of Delta Brac Housing Finance Corporation said: “I’m very happy with these new facilities that will contribute to meeting the growing demand for housing in Bangladesh. The partnership with both FMO and Triodos is strong and much needed for expanding our portfolio and providing housing solutions for our population”.