The Norwegian Microfinance Initiative (NMI) is an innovative strategic partnership between the Norwegian public and private sectors that will invest in microfinance institutions (MFIs) in developing countries and provide professional assistance and technical support for these institutions. The mission of NMI is to contribute to the empowerment of poor people and to the creation of jobs, wealth, and economic and social sustainability in developing countries by investing in and supporting MFIs. Learn more
3 April 2014: The funding from NMI will contribute towards further branch expansion into underpenetrated regions in the poor, Northern part of India in order to reach more clients. Furthermore, the funding will contribute towards developing more products to enhance the quality of life for the clients, especially in the area of sanitation and health.
24 March 2014: NMI AS was invited to deliver a key message speech at the 10th Global Microfinance Forum held 20th & 21st March 2014 in Vienna, Austria.
18 March 2014: NMI along with Incofin Rural Impulse Fund II announce a significant equity boost through a Ksh 1.37 Billion (approximately USD 16 million) capital infusion in Kenya Women Finance Trust (KWFT) DTM. The new development strongly propels KWFT DTM in its growth path to seal its position as the preferred financial partner for women entrepreneurs in the East African region. KWFT has the ambition to continue its strong growth path, aiming at reaching over 1 million new clients over the next 4 years. The capital increase thereto is an important first milestone. This is the largest single NMI investment to date.
6 March 2014: NMI has invested EUR 3.3 million in FEFISOL, an investment fund assisting African institutions that help poor households in rural areas in Sub Sahara Africa where little or no formal lending exists. FEFISOL funds primarily microfinance institutions, but has also some small (but important) credit lines to smallholder agricultural producer organizations like IKURU. This funding improves the income for the small farm households and helps retain revenue and profits in the local area.
13 February 2014: NMI is pleased to announce the Client Protection Principle Certification for LOMC, a Sri Lankan MFI and an investee in the NMI Frontier Fund. The NMI PA Facility was instrumental in this success by supporting LOMC in defining their institutional needs, linking them up with the proper consultants, and providing monetary support for the project.