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Colophon

Contact details Should you have any feedback or questions, please feel free to contact us. Read more about Colophon .

Disclaimer

This website (massif.fmo.nl) is maintained by the Netherlands Development Finance Company (FMO). Read more about Disclaimer .

Downloads

To download other reports, please visit our reporting center. Read more about Downloads .

Highlights

In 2025, MASSIF continued to deliver on its mandate as a catalytic investor in inclusive and sustainable financial systems. Read more about Highlights .

Home - 2025

MASSIF is the financial inclusion fund that FMO manages on behalf of the Dutch government. Read more about Home - 2025 .

Letter from the Management Board

The year 2025 began in a climate of global uncertainty, a defining feature that persisted throughout the year. Conflicts intensified, geopolitical tensions rose, and global alliances continued to shift. Read more about Letter from the Management Board .

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