MASSIF aims to support the growth of responsible businesses in developing countries by providing access to financial services. The MASSIF fund is managed by FMO on behalf of the Dutch Government.



MASSIF provides a mix of financial instruments, ranging from seed capital, debt products and mezzanine finance to direct equity and investment funds. In some cases, finance is provided in local currency. The fund also offers capacity development grants.  


Eligible applicants 

The fund is available for: 


  1. Micro, small and medium-sized enterprises or commercial banks looking to expand their client base by downscaling
  2. Microfinance intermediaries seeking to broaden their services in rural areas
  3. Non-governmental organisations looking to transition into official finance entities


Focus area

MASSIF focuses on four areas: 


  • The unbanked: micro, small and medium enterprises in the least financially penetrated and fragile countries
  • Agriculture and rural livelihoods: small businesses in rural areas and agricultural value chains to improve the livelihoods in these communities
  • Women-owned businesses and youth entrepreneurs: creating opportunities and promoting gender equality
  • Innovations in inclusive business: access to basic goods and services


Target countries

MASSIF is a revolving fund with the aim to build and strengthen the financial sector in developing countries and at the same time promote micro, small and medium-size enterprises in developing countries.



The investment procedure of MASSIF follows five stages:


  1. Intake procedure to check the eligibility of a potential investment opportunity
  2. Screening of the potential risks and challenges of the investment
  3. Due diligence including an on-the-ground assessment through local visits 
  4. Engagement with local stakeholders to assess the long-term viability of the project
  5. Contracting stage


Why work with Advance Consulting?


  1. We deal with funding programmes such as MASSIF and fund managers such as FMO on a daily basis, so we have a deep understanding of how all of this can work in the best interest of your company.
  2. Developing bankable business plans and finance applications for international investment projects is our core business.
  3. You can benefit from the lessons we learned from other business finance cases, to optimize your proposition.
  4. We may be able to advise on alternative or complementary financing options. We also can assist you in meeting the requirements of your bank to participate as a financier.
  5. You can engage us on a result basis.

Contact Peter Bleeker ( for more information on the MASSIF fund and to discuss the opportunity.