Massif 2022

Annual report

MASSIF is the financial inclusion fund that FMO manages on behalf of the Dutch government.

MASSIF enhances financial inclusion for micro-entrepreneurs and small- and medium-sized enterprises (MSMEs) that are disproportionately affected by a lack of access to financial services. The fund supports intermediaries that reach out to MSMEs in fragile and low-income countries, MSMEs in rural areas and those dependent on agriculture, women-and-youth owned MSMEs, and intermediaries providing access to productive goods and services for underserved individuals in the poorest social-economic segments.

Amid the economic and social fall-out of the pandemic, the state funds under management by FMO played an important role in ensuring that our customers could stay afloat.

Our Performance

We were able to commit to 14 new investments amounting to EUR 75.8 mln.

Our committed portfolio

Total committed portfolio

€ 522 million

Total committed portfolio by region