SANAD finances 200,000th loan to foster entrepreneurship in Middle East and North Africa

• Impact fund supports economic growth and job creation by expanding much-needed access to finance for local business owners
• 200,000th loan disbursed by local partner Microfund for Women to female entrepreneur in Jordan

Luxembourg and Amman, February 4, 2020 – The SANAD Fund for MSME (SANAD) announced today that its investments have facilitated the 200,000th subloan to support entrepreneurs in the Middle East and North Africa. 

By providing dedicated funding to local financial institutions committed to serving micro, small, and medium enterprises (MSMEs) in the region, SANAD expands the ability of entrepreneurs to access much-needed financing to invest in their long-term success. The 200,000th such sub-loan was recently disbursed by Microfund for Women (MfW), a SANAD partner and investee since 2015. The loan in the amount of 710 Jordanian dinar (USD 1,000) was provided to Maysson Ja’far Almomani to finance the sewing business she runs out of her home in Ajloun, Jordan. 

SANAD Board Chairperson Dr. Daniela Beckmann said, “MSMEs form a cornerstone of the economy in the Middle East and North Africa; local businesses provide a substantial proportion of jobs, stability, and prospects. By driving financial inclusion to this important segment, SANAD and its partners are nourishing the roots of the region’s economy. We are particularly proud to pursue this goal together with Microfund for Women and would like to thank MfW for their excellent work in promoting MSME growth – especially for female entrepreneurs. And we wish Ms. Ja’far Almomani every success with her business!”

About SANAD 

The SANAD Fund for MSME finances micro, small, and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD strives to meet these goals by providing debt and equity financing to its local partners. The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building with partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D. 

An impact investment fund advised by Finance in Motion, SANAD’s investors include the KfW Development Bank, which initiated the fund; the German Federal Ministry for Economic Cooperation and Development (BMZ); the European Union; Switzerland’s State Secretariat for Economic Affairs (SECO); OeEB, the Development Bank of Austria; Germany’s GLS Bank and GLS Treuhand; the Dutch development bank FMO; and Calvert Impact Capital. 

For more information on the SANAD Fund for MSME, please visit: www.sanad.lu  
For more information on Finance in Motion, please visit: www.finance-in-motion.com  

Media contact – SANAD
Nikki Eggers
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470 
Email: press@sanad.lu