JASMINE: Joint Action to Support Micro-finance Institutions in Europe

Additional tools


JASMINE is a joint initiative of the Commission, the European Investment Bank (EIB) and European Investment Fund (EIF).

This action in the field of microcredit is being developed in the framework of JEREMIE and the Communication on microcredit adopted by the Commission on 17 November 2007: "A European initiative for the development of micro-credit in support of growth and employment" (COM (2007)0807)

Its objective is to:

  • Disseminate good practice in the EU as regards microcredit lending.
  • Support the development of microcredit providers active in the European Union in various fields such as institutional governance, information systems, risk management and strategic planning (capacity building).
  • Help these intermediaries become sustainable and viable operators on commercial terms.

Originally the JASMINE TA Facility provided various financial and non-financial services to MFIs, but the concept has evolved over the years. As it stands now, the JASMINE TA Facility concentrates on delivering TA to microcredit providers, while financing is made available to microcredit-providers through the European Progress Microfinance Facility (EPMF) managed by the EIF.

Some Member states and regions have established financial instruments under the JEREMIE initiative and allocated part of their structural funds appropriations to these instruments. The objective is to facilitate access to microcredit lending for those micro-enterprises and micro-entrepreneurs who do not have access to traditional banking services.


A range of consistent tools and services are developed under JASMINE. They all focus on improving the quality of microcredit providers and establish good practice in this sector. Two types of services are made available:

Jasmine Concept JASMINE Helpdesk European Code of Good Conduct for microcredit provision

The European Investment Fund (EIF) was appointed by the Commission to setup and manage the JASMINE Technical Assistance Facility for selected beneficiaries active in the European Union.

The selection of the beneficiaries results from a due diligence conducted at the end of a "Call for Expression of Interest" process launched by the EIF once or twice a year.

The selected micro-credit providers / micro-finance institutions selected by the EIF benefit from a range of services made available free of charge. These services include:

  • either an evaluation / diagnosis of the structure, organisation and operating mode of the selected micro-credit providers/MFI or an institutional rating performed by a specialised rating agency (Planet Rating or MicroFinanza);
  • Microfinance Centertailor-made training for the staff and the management of the selected MFIs provided by expert consultants (Microfinance Center) following the evaluation / rating exercise;

For more information on the Calls for expression of interest and conditions of application see: http://www.eif.org/what_we_do/microfinance/JASMINE/index.htm

Target microcredit providers
The JASMINE Technical Assistance targets the following types of Microcredit Providers, active in the European Union:

  1. Non bank financial institutions
    - Greenfield MFIs willing to improve their internal processes through (i) an independent assessment of their institution and (ii) tailored trainings to the staff;
    - mature MFIs willing to increase the quality of their operations through (i) an assessment report or a rating report likely to facilitate fundraising and (ii) tailored consulting services to the staff and the management team;
  2. Licensed Banks
    Licensed banks never rated by specialised microfinance rating agencies, providing microcredit products and willing to receive (i) an independent opinion on their microcredit operations by specialized European microcredit rating agencies as well as (ii) tailored coaching to increase the staff knowledge in microfinance.
Country Microfinance institution Year (Beneficiary)
Belgium Credal 2011
Belgium MicroStart 2012
Bulgaria Mikrofond AD 2013
Bulgaria Nachala Cooperative 2013
Bulgaria JOBS Micro Financing Institution EAD (Bulgarian Development Bank MFI) 2011
Bulgaria Mikrofond AD 2010
Bulgaria Mikrofond AD 2011
Bulgaria Nachala Cooperative 2010
Bulgaria Nachala Cooperative 2011
Bulgaria SIS Credit 2012
Bulgaria USTOI 2010
France Créa-Sol 2013
Germany Goldrausch 2013
Germany HSZ Consulting 2013
Germany Mikrofinanzwerk 2013
Germany Objektiv 2013
Germany Smart Mikrokredit 2013
Germany VS Finance GmbH 2013
Germany DAVW/ARTEL 2012
Germany Gründungsmanager 2012
Germany Indaro 2012
Germany Kapitalinstitut 2012
Germany KIZ Finanzkontor 2012
Germany Kölner Marktgenossenschaft (KMG ) 2012
Germany Mikrokredit Schleswig-Holstein (MKSH) 2012
Germany MONEX 2012
Germany Mozaïk 2012
Germany Pro Unicus 2012
Germany REGIOS 2012
Greece Business and Cultural Development Centre (KEPA) 2013
Hungary PRIMOM Foundation for Enterprise Promotion (LEA) 2010
Hungary Mikrohitel 2010
Hungary Foundation for Regional Enterprise Promotion for the Town of Székesfehérvár (FEA) 2010
Italy ACAF Italia 2013
Italy Banca di Credito Cooperativo (BCC) Mediocrati 2013
Italy Banca di Credito Cooperativo (BCC) Emilbanca 2013
Italy MAG Verona 2013
Italy PerMicro 2013
Italy Prestiamoci 2013
Italy Un raggio di Luce 2013
Italy Banca di Credito Cooperativo Mediocrati (BCC) 2012
Italy Fondazione Risorsa Donna 2011
Italy PerMicro 2010
Latvia Capitalia 2012
Malta Bank of Valetta 2012
Poland Lublin Development Foundation 2013
Poland Warmia and Mazury Regional Development Agency 2013
Poland Kujawsko-Pomorski Loan Fund 2013
Poland CED Sucha 2012
Poland Dzialdowska Development Agency 2012
Poland Fundusz Mikro FM2 2012
Romania C.A.R. Sanatatea 2013
Romania C.A.R. CFR 2013
Romania C.A.R. Invatamant 2013
Romania C.A.R. Sanitar Valcea 2013
Romania C.A.R. Sanitar Brasov 2013
Romania C.A.R. Tractorul Brasov 2013
Romania Opportunity Microcredit Romania (OMRO) 2013
Romania Patria credit 2013
Romania Agency for Implementing Projects and Programs for SMEs 2011
Romania Banca Carpatica 2012
Romania Express Finance 2010
Romania FAER 2010
Romania FAER 2012
Romania LAM 2010
Romania LAM 2012
Romania Opportunity Microcredit Romania (OMRO) 2010
Romania Patria credit 2011
Romania RoCredit 2012
Romania ROMCOM 2011
The Netherlands Qredits 2011
Spain Seed Capital de Bizkaia 2013
Spain CEEI Burgos 2012
Spain CPPAC 2010
Slovakia NADSME 2012
Sweden MFI AB 2012
UK WCVA (Wales)beaucoup 2013
UK Business Finance Solutions 2011
UK Manchester Credit Union 2011
UK The Prince's Scottish Youth Business Trust (PSYBT) (Scotland) 2010
UK WCVA (Wales) 2012

In addition to the technical assistance provided to selected beneficiaries JASMINE also provides tools and services available for the entire microcredit sector of the European Union.


The document provides standards in terms of management, governance, risk management, reporting, and consumer and investor relations that are common to the microcredit sector in the European Union.

JASMINE - European Code of Good Conduct for Microcredit Provision


The JASMINE HELPDESK allows you to lodge detailed information requests on microcredit and microfinance in the EU (including JASMINE, the European Code of Good Conduct for Microcredit Provision, …).

The enquiries are treated by the "European Microfinance Network" (EMN)

JASMINE Helpdesk


Specialised workshops dedicated to the dissemination of good practice in the field of microcredit are organised by EMN on behalf of the Commission

More information on the workshops: http://www.european-microfinance.org/jasmine-mds-workshops.php

(Under development...)

The Commission is preparing a web application complementing the Code of Good Conduct.
The application will also help potential micro-entrepreneurs identify local and regional microcredit providers and facilitate potential investors liaising with microcredit providers.
(1st phase planned end 2012)

JASMINE Code of Good Conduct for Microcredit Provision

Jasmine Helpdesk

(*) Service managed by the EIF, under contract with the Commission

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