Highlights

In 2018, MASSIF financed approximately 87,500 micro-entrepreneurs and 1,485 Small and Medium Enterprises. At the end of the year, MASSIF counted 135 active investments in its portfolio, with 121 different clients.

MASSIF’s fund capital reached EUR 498.1 mln thanks to the additional contribution of EUR 15 mln from DGIS and a significant increase in net profit as compared to last year: from a negative amount of EUR 23.6 mln in 2017 to a EUR 30.3 mln profit in 2018. This considerable increase was largely due to positive foreign exchange results and increases in interest income and equity investments’ results.

MASSIF made 20 transactions resulting in EUR 72.7 mln in new commitments, including grants, hence reaching a total committed portfolio of EUR 549 mln, including guarantees. MASSIF also signed 25 Capacity Development (CD) projects to provide technical assistance to its clients and end-clients. For more information on CD projects, please see section ‘Capacity Development’.