News and updates
The South African Bank Sasfin is the first to benefit from the COVID-19 emergency facility set in place by the EU and FMO’s NASIRA fund. The transaction concerns a 7-year USD 35 million facility. This will support Sasfin’s lending to COVID-19 affected borrowers in South Africa, and developing and originating new (digital) lending products, specifically targeting youth, female and migrant borrowers.Read the press release
“We have always been committed to SMEs, and with NASIRA, are now in an even better position to step up support to so many SMEs who struggle to access finance."Listen to the whole item in The Money Show of Bruce Whitfield
Through NASIRA, FMO invested in Tamweelcom, Jordan’s second-largest Micro Finance Institution serving 90,000 clients including youth and women entrepreneurs. With FMO’s support, Tamweelcom now provides loans to Syrian refugees in possession of UNHCR identification and a Jordanian Ministry of Interior Card. This film was made by the European Commission's External Investment Plan.
In the run-up to UN World Refugee Day (June 20th), Dutch development bank FMO signed the first ever Risk Sharing Facility for refugee entrepreneurs from the Syrian crisis, as a pilot under its NASIRA program. This signing took place at the European Development Days, organized by the European Commission in Brussels.Read the press release
"We are proud to be the launching partner of this innovative solution and are pleased to have worked with FMO, MASSIF and the European Commission under its NASIRA program. This transaction marks an important milestone for Tamweelcom as it strengthen its mission to utilize expertise as well as its ability to connect with the Syrian Entrepreneurs community."
“By turning challenges into opportunities, NASIRA truly helps to address poverty and to give people reason to commit to a future in their own community. Jobs are key to the future and it’s up to us, as governments and political leaders to work together and make sure that more and more people become empowered to take that future in their own hand.”