JASMINE (Joint Action to Support Microfinance Institutions) was an EU programme managed by EIF in the period 2007-2013 to help non-bank microfinance institutions to scale up their operations and maximise the impact of microfinance products on microenterprises development and unemployment reduction within the European Union. JASMINE has been successfully implemented.
Given the positive impact of JASMINE on the sector and its complementarity with existing and forthcoming EU microfinance programs such as financial instruments under the European Progress Microfinance Facility and the EU Programme for Employment and Social Innovation (EaSI), JASMINE has been extended in the framework of the 2014-2020 programming period. The initiative is integrated under the fi-compass advisory platform for financial instruments under the European Structural and Investment Funds (ESIF) and microfinance under EaSI, which is implemented by the European Investment Bank (EIB) and funded by the European Commission. Read more details here
Under the programme EIF has provided Technical Assistance to 70 selected microfinance institutions (MFIs) across the EU to increase the quality of their internal processes. Selected microcredit providers have received a free institutional diagnosis/in-depth rating report performed by Microfinanza Rating or Planet Rating and up to 12 days of tailor-made consultancy services and trainingby experts from the Microfinance Centre.
Following the launch of a call for expression of interest and due diligence process carried out by EIF, the 30 microcredit providers below were selected to benefit from JASMINE in 2013: