FMO, the Dutch entrepreneurial growth financial institution, has partnered with Northern Arc Capital, the Chennai-based platform within the monetary providers sector, for an progressive monetary programme to assist ladies, youth and migrant-led companies in Sub-Saharan Africa and international locations neighbouring Europe.
Underneath this partnership, Northern Arc will assist FMO by means of providers, together with analysis on macro developments, evaluation of monetary panorama, transaction monitoring, efficiency reporting and modelling assist for securitisation transactions in Sub-Saharan Africa and international locations neighbouring Europe, for all transactions assured by FMO underneath the NASIRA programme.
NASIRA is a risk-sharing facility offered by FMO for native monetary establishments lending to underserved segments. The mission underneath the NASIRA is to permit native monetary establishments to offer loans to younger ladies, Covid-affected individuals and migrant entrepreneurs, who they usually would understand as too dangerous.
Marnix Monsfort, director – monetary establishments at FMO, mentioned: “Reporting and modelling is an important a part of the NASIRA assure programme, because it gives the info wanted to indicate to monetary establishments actual dangers of lending to underserved components of the inhabitants, permitting them to proceed serving these teams even after the assure programme ends.’’
Bama Balakrishnan, COO at Northern Arc Capital, mentioned: “This thrilling partnership with FMO marks our first step in direction of the worldwide advisory footprint. We’re happy that our experience in structuring, due diligence and knowledge modelling underneath the flagship NASIRA programme will facilitate monetary entry to small companies and girls, serving to them uplift their livelihoods, households and communities in Africa and the Sub-Saharan European neighbourhood. We’re sure that being chosen as a trusted associate by FMO will entice related partnerships on the advisory entrance with different home and abroad buyers.”