KIT Royal Tropical Institute – in consortium with Access Alliance – is a shortlisted service provider under a four year agreement to support FMO’s financial institution clients, participating in the NASIRA Programme, to (better) serve women, young- and migrant entrepreneurs.
What is NASIRA?
In December 2018, FMO and the European Commission signed an agreement for the NASIRA Risk Sharing Facility for an amount up to €75 million for a period of four years. The facility targets financial institutions and microfinance institutions in sub-Saharan Africa and countries and regions that neighbor Europe.
FMO will manage the facility, which provides a bilateral loss-sharing scheme between FMO and its financial institution clients to unlock lending to specific target groups (migrant-, women- and young- entrepreneurs) that are perceived by the financial institutions as ‘high-risk’ in terms of repayment rates.
Complementary to NASIRA, the European Commission approved €4 million in technical assistance (TA) for financial institutions to strengthen their ability to serve the target groups better and to unlock and enhance their clients’ potential.
The TA programme will work on:
- financial institutions’ internal risk management systems, and
- tools to improve the service provided to the target groups.
The TA programme is a crucial component of successfully implementing NASIRA and generating the impact it envisions.