Nordic Microfinance Initiative AS
- Region: Global
- Country: Global
- Sector: Microfinance
- Year: 2008
- Domicile: Norway
- Instrument: Equity
- Commitment (MNOK) as of 31.12.2016: 28.4
- Original Commitment (MNOK): 28.4
The Mission of NMI is to contribute to the empowerment of poor people and to the creation of jobs, wealth and economic social sustainability in developing countries by investing in and supporting Microfinance Institutions (MFIs). NMI strives to set high standards within the Social Performance Management and Reporting, and to support portfolio MFIs in developing sustainable and robust social performance platforms.
NMI comprises three micro-financing funds (NMI Global Fund, NMI Frontier Fund and NMI III ). The NMI funds invest equity capital and loans directly and indirectly in micro financing institutions. The funds are managed by NMI AS, a Norwegian management company established by NMI’s investors in 2008. Norfund owns fifty per cent of NMI AS. The remaining fifty percent are divided equally between Ferd, Vital, Storebrand and KLP. The establishment of NMI in 2008 represents a unique public-private partnership, in which the Ministry of Foreign Affairs and NORAD participated in the process of establishment. Norfund supports NMI AS with a view to accumulating a portfolio of commercially viable investments in micro-financing institutions that also can serve to promote development.