Status: Completed investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at


The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Mikrofin is the largest Microfinance Institution in Bosnia and Herzegovina and has a focus on the agricultural sector. The 'Association of Citizens Mikrofin' is the shareholder of Mikrofin, and receives its funding from CARE foundation. Mikrofin's mission is to provide appropriate financial services to economically active, low-income people that can use them to generate profit. The goal is to make it possible for such people to become economically independent.

What is our funding objective?

By supporting Mikrofin, FMO helps facilitate access to finance for micro entrepreneurs, mainly in the agricultural sector. By providing finance to micro clients, Mikrofin promotes economic growth amongst the low-income population in a country with an unemployment rate of 40%. These small entrepreneurs have an average loan portfolio of EUR 1,300. Environmental risk associated with supporting such entrepreneurs is low; social risk, on the other hand, is mitigated through implementation of Client Protection Principles. These are well-guarded by the institution itself and by the supervisor.

Why do we fund this investment?

By providing long-term finance to an institution operating in a struggling economy, FMO enables Mikrofin to continue promoting access to finance for micro entrepreneurs. With its focus on micro clients in the agricultural sector, Mikrofin promotes inclusive finance. By providing a EUR 5 million loan, FMO supports approximately 3,800 clients.

Website customer/investment
Europe & Central Asia
Bosnia and Herzegovina
Financial Institutions
Effective date
End date
Total FMO financing
EUR 5.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)