Building on the success of the NASIRA program, FMO and the European Commission launch Nasira+, now with a global reach and an extended focus on green financing alongside underserved entrepreneurs. This global guarantee program, which will open doors for micro, small and medium business owners in need of financing, has been made possible by the extended support of the European Fund for Sustainable Development Plus (EFSD+), as part of the European Union’s Global Gateway strategy and various current and future Team Europe Initiatives, like Investing in Young Businesses in Africa. Also the Dutch government has again contributed to the guarantee program through the MASSIF fund - one of the government funds managed by FMO - aimed at advancing financial inclusion.
Nasira+ aims to bridge the financing gap for entrepreneurs who are typically excluded from or underbanked by formal financial systems: youth, women, migrant entrepreneurs, and other underserved MSMEs. With Nasira+ we broaden the current program’s geographical and sectoral mandate, building on existing NASIRA infrastructure, knowledge, and experience. Nasira+ will add countries in Asia, Latin America, and the Caribbean, and continue with Africa and the European Neighborhood, now also including Türkiye.
FMO aims to build a Nasira+ portfolio of over 40 financial institutions over the program’s investment period. The total portfolio size is estimated at EUR 1 billion, building on a European Commission maximum cover of EUR 264,5 million. The program also includes a technical assistance facility for the participating financial institutions to strengthen their risk management, data systems, and operational processes, growing their ability to serve these customer groups.
This is a concrete example of how the Global Gateway strategy delivers on our shared ambition.
Jozef Síkela, EU Commissioner for International Partnerships, stated: “The EFSD+ guarantee is designed to unlock finance where it can make the biggest difference and to encourage private-sector investments in developing and emerging markets. By supporting the Nasira+ program, we enable financial institutions to reach underserved entrepreneurs, reduce risks, and create opportunities for decent jobs. This partnership is a concrete example of how the Global Gateway strategy delivers on our shared ambition for sustainable and inclusive growth.”
Nasira+ responds to the request of our partners in the global South.
Steven Collet, deputy Director General International Coordination: “We are excited to partner with FMO and the European Commission on Nasira+ to help build more stable communities and contribute to long-term development and global stability. With millions of young people entering the labor market in emerging economies in the coming years, Nasira+ responds to the request of our partners in the global South to expand opportunities for underserved entrepreneurs, particularly women and youth, and strengthening resilience in fragile contexts.’’
We’ve laid the groundwork for transformative partnerships.
Michael Jongeneel, CEO at FMO, said: “We want to express our appreciation for the strong and constructive collaboration with the European Commission and the Dutch government. Together, through EFSD+ and MASSIF, we’ve laid the groundwork for transformative partnerships that drive inclusive and sustainable development. We are especially excited to embark on the next chapter with the launch of the Nasira+ program - an initiative that holds great promise for expanding our reach and deepening our impact in underserved markets.’’
