FAT32 0.10 Alpha 7 driver is available for download (2016/11/01):
ftp://osfree.org/upload/fat32/fat32-0.10-alpha7.zip
"FAT32.IFS for OS/2 will allow you to access FAT32 partitions (max 32 Gb, non removable) from OS/2. This version includes: 1) FORMAT routine, based on Fat32format, ported from win32 2) CHKDSK, run on fat32.ifs init, instead of running from cachef32.exe."
Source: eCSoft/2