23 April 2020. NASIRA financial program receives €25 million top-up from the European Fund for Sustainable Development
The European Commission together with FMO scaled up the NASIRA financial guarantee to support small COVID-19 affected entrepreneurs in Africa and EU Neighbourhood.
The measures are a joint response and include a top-up of €25 million from the European Fund for Sustainable Development and an expansion in scope to support COVID-19 affected entrepreneurs. Also, NASIRA receives €2.5 million from FMO’s Dutch Government Fund MASSIF. With these adjustments, the NASIRA guarantee will help small businesses in Africa and the EU Neighbourhood to stay afloat during and after this pandemic.
Ghana produces the world’s highest-quality bulk cocoa beans and is the world’s second largest producer of cocoa, accounting for 20% of global production. But a great deal of the actual cocoa processing does not take place in Ghana. FMO’s client Niche Cocoa was set up to fill the vacuum that existed in local cocoa processing, with the aim of producing high-quality, semi-finished cocoa products and confectionery. Niche aims to expand production to cover the entire value chain – from bean-to-bar – in Ghana.
Source: PAEPARD FEED
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