We do not explicitly refer to fair treatment in our contracts with externally managed investment funds, but during meetings this issue is addressed.
In 50% of our indirect investees Cordaid has a seat on the board of the organization. During board meetings Cordaid addresses this issue of approriate financing. In countries where there has been a crisis in the financial inclusion sector, like in India, it has become easier to address this issue in boards of indirect investees and discuss it with the management of direct investees. As a consequence this issue has therefore received more attention in the due diligence process of the investment managers. Some of the investment funds have developed their own ESG scorecard and report on this to Cordaid. Social Performance criteria, including fair treatment, are in the process to be set and to which all investment managers of externally managed funds need to report.