Post-investment, monitoring of clients' achievement of the stated potential development impact becomes pre-eminent. For this purpose, FMO has developed and collects industry-specific (quantitative) indicators for our whole portfolio. For example, if we finance a textile company, the construction of a new power plant, or a bank, we want to find out the number of jobs created, the number of households that gain access to electricity or the number of loans extended to micro, small and medium-sized enterprises (MSMEs), respectively.
The data - on areas such as employment created or local tax income generated - are estimated ex ante, monitored and eventually measured ex post.
The year 2011 was the second year in which we used quantitative indicators to detail the social and environmental impact of our projects. However 2010 and 2011 data are on a portfolio level not strictly comparable; General figures would be based on a changed portfolio of FMO clients, indicator definitions and reporting periods vary to some extent across clients.
Besides this, FMO is often a minority investor and therefore the results of these quantitative indicators cannot be attributed exclusively to FMO. These results should be seen more as the results or current statuses of our clients. All this is why we have chosen not to publish the portfolio wide quantitative indicator figures. Publishing them could lead to the comparing incomparable figures and thus possibly wrong conclusions.